Finance Minister Masajuro Shiokawa said Friday he expects flat economic growth in fiscal 2002, a slight improvement from the estimated 0.1 percent contraction for fiscal 2001.

"We estimate the economy to secure at least zero growth," as a result of two supplementary budgets for the current fiscal year to be implemented in April, Shiokawa said in an address to the Foreign Correspondents Club of Japan.

For its midterm economic outlook, the government is contemplating a 0.7 percent growth target in fiscal 2003 and slight increases in fiscal 2004 and fiscal 2005, the finance minister added.