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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