25 June 2001, 14:02 Shiokawa - govt plans to cut public works spending from yr to March 2005
TOKYO (AFX-ASIA) - Finance Minister Masajuro Shiokawa said the
government plans to cut public works spending from the year to March
2005.
"The government plans to cut public works from the year to March
2005. I hope the ratio of public works to GDP should be reduced to that
of European countries in the future," Shiokawa told a parliamentary
Upper House committee.
"The government faces a massive redemption of two or five year
shorter dated government debt so it is difficult to cut debt service
payments," he added.
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