The Strategist

Japanese government allocates $15.2B to combat inflation

03/22/2023 - 10:06

According to NHK television, the Japanese government has decided to allot over 2 trillion yen ($15.2 billion) for inflation-control measures.

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In order to address the nation's increasing prices, the government convened a conference of the "general issue on prices, wages, and welfare." The additional measures were agreed upon at the meeting.

"Price rises around the world are still challenging to forecast. We'll keep moving to adapt to the everyday shifts in prices and the state of the economy," said Japanese government Secretary-General Hirokazu Matsuno.

Families with children will receive 50,000 yen ($380) per child, while low-income families will receive a one-time allowance of 30,000 yen ($227). Additionally, starting in May the government will assist businesses that use much electricity by partially offsetting price increases for LNG and electricity.