TOKYO –
The Japanese government approved a supplementary budget proposal exceeding 3 trillion yen on June 3rd, including the creation of a new contingency reserve aimed at responding to developments in the Middle East and addressing rising energy prices.
Finance Minister Katayama said the government would ensure sufficient financial preparedness to minimize risks and respond promptly whenever necessary.
The supplementary budget calls for total general-account spending of 3.1135 trillion yen. A new contingency reserve for responding to developments in the Middle East and other related situations will be established, with 2.5 trillion yen allocated for measures such as coping with surging energy costs.
The package also includes a special local government grant program designed to support households and businesses affected by higher energy expenses, including users of liquefied petroleum (LP) gas in regional areas.
The entire budget will be financed through the issuance of deficit-covering government bonds, adding to Japan’s already substantial public debt burden. The government said the reserve fund would allow it to implement support measures quickly should international tensions or energy market disruptions worsen.
Source: テレ東BIZ
Disclaimer : This story is auto aggregated by a computer programme and has not been created or edited by DOWNTHENEWS. Publisher: newsonjapan.com
