The Cabinet approved on Friday an action plan for the administration’s economic growth strategy, casting the next three years as an intensive implementation period.
Under the action plan, ministers have been put in charge of promoting specific growth strategy fields while the Abe administration will submit 33 related bills to the Diet session that got under way Friday.
The action plan was endorsed after negotiations among Prime Minister Shinzo Abe’s team.
The growth strategy is the “third arrow” in the prime minister’s policies dubbed “Abenomics,” along with aggressive monetary easing by the Bank of Japan and massive public spending.
The Cabinet approved the growth strategy last June in hopes of beating back nearly two decades of deflation by spurring private-sector investment and rebuilding businesses.
For accelerating the strategy, the administration promises to take measures to reduce to zero the number of children waiting to enroll in day care centers and make it easier for women to work.
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