Japan Defends Fiscal and Growth Strategy After G20 Finance Talks
Finance Minister Satsuki Katayama said on September 3 that the economic policy of Prime Minister Sanae Takaichi's government should not be equated with conventional reflationary policy, after returning from the Group of 20 finance ministers and central bank governors meeting in the United States and briefing the prime minister on the talks. (News On Japan)
On September 3, Japan's Finance Minister Satsuki Katayama defended the fiscal and growth strategy of Prime Minister Sanae Takaichi's government following the Group of 20 finance ministers and central bank governors meeting in the United States. Katayama clarified that Japan's approach differed from conventional reflationary policies and highlighted the favorable response from international officials, including U.S. Treasury Secretary Scott Bessent.
She explained that Japan had successfully transitioned from deflation through the Abenomics framework and now needed a new policy combining budget reform with growth strategies. Katayama denied reports that Bessent questioned the Bank of Japan's independence or urged Japan to abandon reflationary policies, emphasizing that their discussions focused on economic cooperation rather than specific demands.
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