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Japan has also started its own "efficiency revolution"!

On December 2nd, the official "Government Efficiency Department" of Japan was officially opened. At the first meeting, strong statements were made: to identify those inefficient tax projects and useless subsidies, and to cut at least 20 trillion yen in waste each year, with a goal of improving public spending efficiency by more than 15%.

The Minister of Finance, Katsuyuki Katayama, stated plainly - let the common people get involved, to squeeze out the administrative excess and spend money where it matters. "This is related to national credit, currency credit, and market credit." There is more to his words. After all, Japan's government debt has now soared to 260% of GDP, and without taking decisive action, it can't be sustained.

Interestingly, the Japanese government and the central bank have actually reached a consensus: the economic growth target for the next three years is set at an average of 1.8% per year. The Minister of Economic Growth Strategy, Shigenobu Shigeno, has also come forward to state that at least 10 supporting reforms will be implemented.

It seems that this move is not just talk. Under the pressure of debt, Japan is really serious this time.