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.
