Japan's government has approved a draft supplementary budget worth 2.7 trillion yen, or about 21 billion dollars, to fund an emergency package to tackle rising prices.
The draft supplementary budget for the current fiscal year was approved by the Cabinet on Tuesday. It includes about 9.1 billion dollars for subsidies to oil wholesalers to be provided from June to deal with soaring crude oil prices.
About 11.7 billion dollars will added to reserve funds.
Additional government bonds will be issued to finance the package.
The government aims to pass the draft budget in the current Diet session. But opposition parties have expressed criticism about adding massive funds to the reserves, which could be used without Diet approval.
The draft supplementary budget for the current fiscal year was approved by the Cabinet on Tuesday. It includes about 9.1 billion dollars for subsidies to oil wholesalers to be provided from June to deal with soaring crude oil prices.
About 11.7 billion dollars will added to reserve funds.
Additional government bonds will be issued to finance the package.
The government aims to pass the draft budget in the current Diet session. But opposition parties have expressed criticism about adding massive funds to the reserves, which could be used without Diet approval.
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Summary
Japan's government has approved a 2.7 trillion yen supplementary budget to address rising prices, allocating funds for oil wholesaler subsidies and reserve accumulation. The budget includes approximately $9.1 billion for oil wholesalers from June to counter soaring crude oil costs. Additional
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ID: 628424db-c0f0-4396-8def-0a97c0a80b98
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20220517_36/
Date: May 17, 2022
Created: 2022/05/18 07:42
Updated: 2025/12/09 16:16
Last Read: 2022/05/18 07:42