TOKYO, Reuters – On Tuesday, private sector advisors urged Japan’s newly elected Prime Minister Fumio Kishhida to quickly decide on economic stimulative measures. A package is widely anticipated to be released on November 19.

At the initial meeting between Kishida (the premier), cabinet ministers, Haruhikokuroda (Bank of Japan Governor), and four members of private-sector businesses representatives, academics and experts, the message was relayed.

The Council on Economic and Fiscal Policy, (CEFP), is responsible for determining the fundamental principles of the government. This includes the budget and defining mid-year economic and growth strategies.

Advisors stated in a proposal that “Following today’s debates the government must quickly compile economic stimulative measures,”

“We need to work closely with the Bank of Japan, have intense discussions about monetary and price policy each quarter, and check the results of the policy mix from a short and long-term standpoint.”

The meeting was attended by private sector advisers who urged government officials to continue with campaigns for new capitalism that would drive growth and distribute wealth more broadly.

Although they stressed the importance of increasing social activity through vaccinations and testing the advisors also stressed the need to have a schedule for booster shots by the government.