7 September 2001, 12:51  Shiokawa - recieves order to compile supplementary budget from Koizumi

TOKYO (AFX-ASIA) - Finance Minister Masajuro Shiokawa said Prime Minister Junichiro Koizumi has ordered him to begin compiling a supplementary budget to help boost the economy. He said, however, that new spending will not exceed the 30 trln yen bond issuance limit set by the prime minister and it will not include public works projects. Instead, it will focus on measures that contribute to promoting structural reforms, Shiokawa said. He said the second quarter GDP figures just released show the state of the economy to be very "severe" and highlight the need for Japan to play a leading role in efforts to combat the global economic slowdown in cooperation with the US and the EU.

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