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COMPREHENSIVE MEASURES TO ACCELERATE REFORMS IN JAPAN.
(Full text of a statement. Contact details below.)
Tokyo, Oct. 31 /KYODO JBN-AsiaNet/ -- On October 30, The Japanese Government compiled "Comprehensive Measures to Accelerate Reforms." The outline of this new package is as follows; In response to the recent growing uncertainty concerning the nation's financial and economic conditions, the government of Japan has decided to reinforce its policy measures to bring greater stability to the financial system by working for the rapid recovery of financial intermediary functions via accelerating the disposal of non-performing loans, facilitating the smooth reallocation of resources to new growth fields, and striving to realize a rapid recovery of Japan's finance and industry.
The government will accelerate structural reforms via the four main pillars of "financial system reform", "tax reform," "regulatory reform," and "reform of the government expenditure structure;" strengthen its efforts toward the revitalization of the Japanese economy; and aim at the realization of self-sustaining economic growth led by private-sector demand while overcoming deflation. The government will make every possible effort to reinforce the nation's employment and small- and medium-sized enterprise (SME) safety nets, making best use of policies pro-actively taken by local governments, to mitigate effects from accelerating non-performing loan disposal.
To these ends, the government will rapidly prepare concrete formats for the implementation of the following policy measures; implement these measures in a comprehensive manner through integrating the administration of the FY 2002 budget and the ...
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