TOKYO (Reuters) – Finance Minister Shunichi Suzuki said at a meeting of the House of Representatives Finance and Financial Affairs Committee on the morning of the 2nd that it is true that the size of the supplementary budget has increased recently and that the financial situation is becoming more severe. he, he said that the flag of fiscal consolidation must continue to be waved.
I answered a question from Takeshi Kai (constitutional).
Finance Minister Suzuki explained that in response to the novel coronavirus and the recent price hike, the government has prepared an unprecedented supplementary budget to protect people’s lives and livelihoods. On the other hand, he stated that public finances are the cornerstone of the country’s confidence and that “the banner of fiscal consolidation must be steadfastly pursued”.
Shinkai pointed out that the Bank of Japan’s monetary policy was one of the main reasons for the expansion of the supplementary balance sheet and refuted Suzuki’s perception. Regarding monetary policy, Suzuki said: “Let it be left to the independence of the BOJ” and explained that the enlargement of the supplementary budget was the result of the accumulation of the necessary measures.
(Kentaro Sugiyama edited by Shinichi Uchida)
