The government will remedy the country's mounting fiscal debts and initiate tax reforms to revitalize the economy and build a sustainable fiscal structure, Finance Minister Sadakazu Tanigaki pledged Monday.

The government will also contribute to stabilizing the global economy and international development, Tanigaki told a plenary session of the Diet, whose ordinary session opened the same day.

He said the 82.11 trillion yen budget for fiscal 2004 would help members of the corporate sector realize an economic recovery.