The Japanese government has launched its own version of the "Department of Government Efficiency" (DOGE), outlining a plan during its inaugural meeting aimed at identifying and eliminating inefficient tax measures and subsidies.
Following the first DOGE meeting, Finance Minister Katsumi Kaieda told reporters on Tuesday: "By eliminating waste through the efforts of everyone, including the public, and redirecting funds to areas where they are truly needed, we will draw a clear contrast with previous administrations. This is crucial for maintaining trust in our nation, our currency, and the markets."
Kaieda also stated that she sees no divergence between the government and the Bank of Japan in their economic assessments, after BOJ Governor Kazuo Ueda expressed confidence in the economic outlook and hinted at a potential rate hike. Meanwhile, Economic Growth Strategy Minister Minoru Kiuchi repeated these remarks verbatim, indicating that the response was coordinated at the cabinet level to send a unified message of support.
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