Japanese Finance Minister (FM) Satsuki Katayama said on Friday that the country’s doge initiative is key for the Sanae Takaichi administration to pursue budget promoting growth while maintaining fiscal sustainability, Reuters reported.

The government stated that it would reboot its ‌spending review, widening scrutiny of tens of billions of dollars in public funds and subsidies as it seeks funding sources for Takaichi’s costly policy pledges.

Japan’s renewed effort under its DOGE initiative, modelled on the US Department of Government Efficiency, came after an earlier review of special tax measures produced only three proposals to eliminate tax breaks out of approximately 120 examined by government ministries.

Market reaction 

At the time of writing, USD/JPY is up 0.02% on the day at 157.92.