In less than half an hour, the Minister of Finance and the heads of the National Securities and Stock Market Commission, the National Financial Services Commission, and the Deposit Guarantee Fund will join me in signing this milestone document. My colleagues and I have worked on the Strategy for almost six months.
On the fiscal front, the decline in the growth rate has led to an increase in fiscal deficits through, for example, a decline in tax revenues. The fact that the decline in the growth rate is not temporary but prolonged suggests that the growth potential of Japan’s economy has decreased. Various factors have been cited as the reason why Japan’s growth potential has declined.