Ishiba’s first basic policy continues shift to post-Abenomics era

key takeaways

• The Ishiba government approved its 2025 Basic Policy on Economic and Fiscal Management and Reform, which will guide the budgetary process for next year, on Friday, 13 June.
• The basic policy retains many policies inherited from Prime Minister Ishiba Shigeru’s predecessors, particularly in industrial and incomes policies, but strengthens the government’s commitment to fiscal consolidation.
• The goal is for the private sector to drive growth, with the government playing more of a supporting role as it pursues fiscal discipline.