From Japan straight out to the world: the web site for news and information

On June 21, the Cabinet approved the Basic Policy on Economic and Fiscal Management and Reform 2024: Achieving a Growth-Oriented Economy Driven by Wage Increases and Investment, the third such Basic Policy to be approved under the Kishida Cabinet. The Basic Policy indicates a strategy to shift to a growth economy and fully escape from deflation with a virtuous cycle of wage hikes and commodity prices. For the mid- to long-term, it also calls for overcoming the declining birthrate, aging population, and population decline, and bringing about a sustainable economic society in which citizens can feel affluence and happiness. The Economic and Fiscal Rebirth Plan for fiscal years 2025–2030 states the necessity to achieve stable real growth of over 1% in the 2030s and later, when the population decline will increase in pace, with a goal of increasing the nominal GDP to around one quadrillion yen by 2040.

 

The FPCJ invited Ms. Mana Nakazora, a credit analyst who since 2021 has been involved in the discussions leading to the creation of the Basic Policy on Economic and Fiscal Management and Reform as an expert member of the Council on Economic and Fiscal Policy, to discuss the key points of this year’s Basic Policy, concrete initiatives, and issues for achieving its goals.

 

The briefing was attended by journalists from France, Germany, and USA.

 

　Handout

*There are corrections in the slides.

 

【English slide】
①Slide 6 had the incorrect fiscal year for Chapter 4.
Correct: FY2025

②The left graph on Slide 24 reversed the labels for the "baseline case" and "growth case" lines.
The red line (labelled as Baseline case) is the growth case
The blue line (labelled as Growth case) is the baseline case

【Japanese slide】
The left graph on Slide 24 reversed the labels for the "baseline case" and "growth case" lines.
The red line (labelled as Baseline case) is the growth case
The blue line (labelled as Growth case) is the baseline case

■Date:  July 23 (Tue), 2024, 14:00-15:30

■Theme:  Basic Policy on Economic and Fiscal Management and Reform 2024: An Economic Society with Hope for the Future

■Briefer: Ms. Mana Nakazora, BNP Paribas Securities (Japan) Limited, Vice Chairperson of Global Markets

■Language: Japanese, with consecutive English interpretation

 

 

[Note]

If you have published an article, photo, or a program based on our press briefing report, please provide us with the (1) title of article(s) or product(s), (2) author’s name, (3) published/broadcast date of your report, and (4) a copy of or a link to your report (if available) via email (cp[at]fpcjpn.or.jp).
*Please replace “at” with “@” when you send the e-mail.