The Finance Ministry on Monday proposed cutting spending under the government's fiscal investment and loan program by 16.3 percent in fiscal 2005 from the previous year.
The cut, which would mark a 26-year low, reflects the program's diminishing project- financing role under the reform drive to make it more market-oriented.
The proposed outlays under FILP, known as "zaito," for fiscal 2005 will total 17.15 trillion yen, down from 20.49 trillion yen under the initial fiscal 2004 plan.
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