9 April 2002, 08:52 Takenaka sees further improvement in economic data from March
TOKYO (AFX-ASIA) - State Minister for Economic and Fiscal Policy
Heizo Takenaka said data have been positive since the last Cabinet
Office monthly economic report, indicating a possible upgrade in the
latest assessment.
"There have been further improvements in the economic indicators
released since last month," Takenaka told a routine briefing, a day
ahead of the publication of the Cabinet Office's lastest economic
report.
"We would like to evaluate these in the monthly economic report
tomorrow."
The office upgraded its assessment of the economy in March for the
first time since June 2000, saying exports were bottoming out and
industrial production was showing signs of reaching a trough.
Meanwhile, Takenaka said members of the government's Council on
Economic and Fiscal Policy will hold a meeting on April 16 to discuss
the outcome of the Financial Services Agency's special inspections into
major banks.
Minister of Financial Affairs Hakuo Yanagisawa, who heads the FSA,
will attend the meeting, he said, but added that the agency has so far
maintained its stance that it is unnecessary to inject public money
into the banks.
"A public-fund injection is one way to cut bad debt," Takenaka
said, but added: "We should not focus on one specific way of
considering bad debt."
He added that he has not heard anything about the outcome of the
special inspections from the FSA yet, simply saying: "I have heard that
the FSA's inspection is very strict."
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