26.8 C
Brunei
Sunday, February 5, 2023
26.8 C
Brunei
Sunday, February 5, 2023
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    Japan enacts USD214B extra budget to blunt inflation impact

    ANN/THE JAPAN TIMES – The Japanese Parliament on Friday enacted a JPY28.92 trillion (USD214 billion) extra budget for the current fiscal year to help struggling households cope with accelerating inflation and support an economy facing downward pressure.

    The House of Councillors approved the second supplementary budget of the year through March 2023 on Friday after the House of Representatives passed it earlier.

    Rising inflation has become a global issue and Japan, which has seen prices rise at a much slower pace than the United States or Europe, is no exception.

    The government will secure most of the funding by issuing bonds worth JPY22.85 trillion.

     

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