Tokyo, Jun 03 (V7N) – Japan’s cabinet has approved an additional budget worth $19 billion to address rising inflation driven by instability linked to the ongoing conflict in the Middle East, particularly tensions involving Iran.
The decision was reported by BBC News citing AFP, following a cabinet meeting held on Wednesday (June 3) morning. Prime Minister Sanae Takaichi’s office confirmed the approval in an official statement.
Government spokesman Minoru Kihara said the situation in the Middle East remains uncertain, and the new budget aims to reduce economic risks and ease financial pressure on citizens.
According to officials, the supplementary spending will be used to help offset rising costs of gasoline, electricity, and gas. The government is also considering additional support measures to address increasing prices of essential goods.
Prime Minister Takaichi had previously indicated that the extra funding would be directed toward stabilizing household expenses amid global energy price volatility.
Analysts say the ongoing conflict in the Middle East has disrupted global energy markets, hitting import-dependent economies like Japan particularly hard and contributing to a rise in the cost of living for ordinary households.
END/SMA/AJ
