Panel approves austere budget limit for FY 2003

Panel approves austere budget limit for FY 2003

TOKYO, Japan - Finance Minister Masajuro Shiokawa (L) and Chief Cabinet Secretary Yasuo Fukuda are seated for a meeting of the Council on Economic and Fiscal Policy on Aug. 6 as Prime Minister Junichiro Koizumi walks behind to take his seat. The council approved a belt-tightening fiscal 2003 budget request framework of 48.1 trillion yen in core general expenditures, including a 3% cut in public works spending and a 2% decrease in discretionary outlays such as foreign aid. (Kyodo)

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  • Kyodo / Kyodo News Images
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