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TOKYO, June 20 (Reuters) – Japan plans to set a target of about $2.3 trillion in \u200ccombined public and private investment by \u200c2040 across 17 strategic sectors as part of Prime Minister \u200bSanae Takaichi’s new growth strategy, the Nikkei reported on Friday.<\/p>\n
The 370 trillion yen investment initiative, to be unveiled as early as next week, \u200cwill focus on \u2060areas such as AI, chips and space development, as Takaichi seeks to \u2060use government spending to spur private-sector investment, the business daily said, without citing a source \u200bfor the \u200binformation.<\/p>\n
A call by \u200bReuters to the Prime \u200cMinister’s Office on Saturday to seek comment went unanswered outside business hours.<\/p>\n
The government is considering creating a multi-year budget framework to ensure stable funding for investments deemed critical to economic \u200csecurity, some of which may \u200bbe financed through bridging \u200bbonds.<\/p>\n
Bridging bonds are \u200bused to cover temporary funding needs \u200cand are issued with \u200bguarantees on \u200bspecific means to pay for redemption, allowing the heavily indebted government to argue that \u200bit is mindful \u200cof fiscal discipline even as it boosts \u200bspending.<\/p>\n
($1 = 161.2800 yen)<\/p>\n
(Reporting by Makiko Yamazaki; \u200bEditing by William Mallard)<\/p>\n<\/p><\/div>\n