Japan approves $19bn extra budget to ease inflation driven by Iran conflict
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- Japan has approved a $19 billion supplementary budget to help households cope with rising expenses linked to turmoil in the Middle East.
- The funding will target energy costs, including petrol, electricity and gas.
Japan has approved a $19 billion supplementary budget aimed at easing pressure on households facing soaring living costs amid continued instability in the Middle East.
The office of Prime Minister Sanae Takaichi said the package was formally approved during a Cabinet meeting on Wednesday morning.
Government officials said the additional spending is intended to cushion the impact of higher energy costs on consumers.
“Amid ongoing uncertainty in the situation in the Middle East, we have formulated this budget from the standpoint of minimising risk,” government spokesman Minoru Kihara said.
Last month, Takaichi said the funds would be used to help offset increases in petrol, electricity and gas prices.
The latest package comes as governments worldwide monitor the economic consequences of regional conflict and volatility in energy markets.
Japanese authorities have warned that prolonged instability could place additional pressure on households and businesses, prompting measures to support consumer spending and economic stability.
