11 May 2001, 12:52 Shiokawa to focus on job situation before deciding fiscal policy
TOKYO (AFX-ASIA) - Finance Minister Masajuro Shiokawa said he will
focus on labour conditions before deciding fiscal policy but does not
plan to implement a supplementary budget on the issue.
"What I am now concerned about most is whether the jobless rate and
job seekers-to-vacancy ratio will worsen. If labour conditions
deteriorate, we will take necessary fiscal action," he told reporters
at a regular briefing.
"However, I have no plan to compile an extra budget for that
purpose," he added. "I believe the economy is closer to entering a
recovery path because the transport and distribution sector is
beginning to show signs of life."
But asked whether the Cabinet Office assessment for May, to be
released this afternoon, would show a fourth consecutive monthly
downgrade, Shiokawa said: "I have heard that the results will be softer
so I'm concerned."
On the foreign exchange market, he said: "We are continuously
closely watching the dollar/yen movement but this is not a situation on
which I have to make any comment."
In the long-run, "I'm not concerned over the dollar/yen trading
because Japan's price conditions are stable and Japan/U.S. relations
are also stable," he said.
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