23 April 2002, 12:46  Takenaka - new targets for bad-debt write-offs to be discussed

TOKYO (AFX-ASIA) - State Minister for Economic and Fiscal Policy Heizo Takenaka said the Economic and Fiscal Policy Committee will discuss whether it is appropriate to set new targets for further bad-debt write-offs. "In previous meetings, participants from the private sector suggested setting ROA or ROE targets for further bad-debt write-offs. We would like to discuss the matter in future meetings," Takenaka said at a news briefing. Asked about the achievements of the government under Prime Minister Junichiro Koizumi, Takenaka said that under Koizumi's restructuring plan, the government has been able to tackle sectors which it had previously been unable to touch. "(Under his restructuring efforts), we were able to move into sectors which previously we were unable to touch," Takenaka said. He added that the government has also successfully changed previous fiscal policy which had depended heavily on government bond issuance. Takenaka reiterated that the government should not depend on bond issuance fiscally. "The Japanese economy is now moving towards bottoming out. We should not embark on a policy" to increase bond issuance," he said.

© 1999-2024 Forex EuroClub
All rights reserved