Lawmakers in Japan have enacted a supplementary budget worth 2.7 trillion yen, or roughly 21 billion dollars, to address fuel prices that have surged since Russia's invasion of Ukraine.
The Diet's Upper House members voted Tuesday to pass the package for this fiscal year. The Lower House approved the bill last Friday.
It earmarks 9.16 billion dollars for a fuel subsidy program and 11.87 billion dollars to replenish the state's reserve funds.
The government has been using those reserve funds to address the coronavirus pandemic. It will now also use it to cope with the price rises.
The Diet's Upper House members voted Tuesday to pass the package for this fiscal year. The Lower House approved the bill last Friday.
It earmarks 9.16 billion dollars for a fuel subsidy program and 11.87 billion dollars to replenish the state's reserve funds.
The government has been using those reserve funds to address the coronavirus pandemic. It will now also use it to cope with the price rises.
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Summary
Japan's government has approved a 2.7 trillion yen supplementary budget, approximately $21 billion, to tackle escalating fuel prices following Russia's invasion of Ukraine. The bill, passed by the Diet's Upper House on Tuesday and Lower House last Friday, allocates 9.16 billion dollars for a fuel
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ID: 62969e97-1740-4eea-8ef2-72efc0a80b98
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20220531_36/
Date: May 31, 2022
Created: 2022/06/01 08:02
Updated: 2025/12/09 15:53
Last Read: 2022/06/01 08:02