日本政府顾问小组民间部门成员呼吁实施可持续财政政策

Core Viewpoint - The Japanese government must balance increased spending to stimulate economic growth with measures to maintain market confidence in its fiscal sustainability [1] Economic Performance - Japan's economy contracted in the third quarter, with inflation remaining around 3%, primarily driven by rising food prices [1] Fiscal Measures - The private sector members of the Council on Economic and Fiscal Policy (CEFP) emphasized the need for necessary and sufficient fiscal measures to invest in crisis management and growth areas [1] - The proposal highlighted the importance of ensuring fiscal sustainability and market trust in Japan's finances, suggesting the reduction of existing wasteful expenditures [1] Debt Management - The proposal calls for stabilizing and reducing Japan's debt-to-GDP ratio while guiding fiscal policy with a focus on interest rates, exchange rates, and stock market conditions [1] Market Reactions - Market expectations regarding Prime Minister Kishida's substantial spending plan have led to predictions of increased debt issuance and long-term inflation, resulting in a decline in Japanese government bond prices and the yen's exchange rate [1]