Statement by Yoshimitsu Kobayashi, Chairman of Keizai Doyukai
On Outcome of G7 Ise-Shima Summit
May 27, 2016
Chairman, Keizai Doyukai
- The G7 Ise-Shima Summit was closed. We welcome the G7 Leaders' Declaration as a well-balanced document in content that presents G7 nations' integrated commitment to address the world's various challenges such as the global economy carrying a slow growth risk, terrorism, maritime security, and climate change. Our respect goes to Prime Minister Abe who demonstrated the leadership as Summit Chairman and all parties involved with the Summit for their efforts.
- Japan's priority in the Summit was all the participating countries' agreement on the implementation of all policy tools such as fiscal stimulus, monetary easing, and structural reform toward a global economy's sustainable and robust growth. In this regard, we appreciate the reaffirmation made for the commitment to use all policy tools individually and collectively with country-specific circumstances taken into account. It was a positive message from the Summit.
- Japan, in particular, must prioritize the fiscal sustainability and implement the necessary measures. We expect the government to deploy the initiatives that contribute to a genuine economic growth. They are the initiatives such as the execution of the daring regulatory reforms and must take into full consideration the assessment of the effectiveness resulting from the prior fiscal stimulus packages.