Outside members of a key Japanese government advisory panel said on Thursday
Japan should "actively use" more of the large surplus in its Foreign Exchange
Special Account to fund government spending, and that existing buffers are
sufficient to withstand sizable yen swings. The proposal, made at an Economic
and Fiscal Policy Committee meeting, comes as policymakers debate how to finance
tax cuts and spending without further enlarging already high government debt.
Members urged authorities to "accurately assess and implement" non-tax revenues
and unused government funds. The proposal will feed into the budget draft for
the fiscal year starts April 1.
