Core Viewpoint - The Japanese government under Prime Minister Sanna Takashi emphasizes "responsible active fiscal policy" aimed at balancing current and future responsibilities, ensuring fiscal sustainability while addressing immediate economic challenges [2][4][5]. Fiscal and Economic Policy - The government aims to balance strong economic growth with sustainable fiscal practices, controlling government debt growth within the limits of economic growth rates to reduce the debt-to-GDP ratio [4]. - The economic measures and supplementary budget for 2025 are designed to address rising living costs while ensuring a secure and robust economy through "crisis management investment" and growth investments [5][6]. - The government plans to keep the issuance of new government bonds lower than the previous year, reflecting a commitment to fiscal sustainability [5]. Budget and Debt Management - The Prime Minister indicated a willingness to adjust the primary balance surplus target based on the need for fiscal sustainability and market confidence, suggesting a shift towards multi-year assessments rather than annual targets [6]. - The upcoming budget for 2026 is being prepared with a focus on prioritizing essential expenditures and minimizing reliance on supplementary budgets [7][8]. Tax and Social Security Reform - The government is considering options for consumption tax reductions, particularly for food services, but recognizes the challenges in implementing such measures quickly [9]. - A "National Conference" is proposed to address social security reforms, aiming for a sustainable system that balances benefits and burdens across different demographics [10][12]. Economic Growth Strategy - "Crisis management investment" is identified as a core component of the growth strategy, focusing on enhancing food and energy self-sufficiency, healthcare stability, and advancing AI technology [16][17]. - The government aims to leverage Japan's manufacturing strengths to develop competitive AI technologies, particularly in robotics and autonomous systems [17].
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日经中文网·2025-12-24 03:26