00:00Japan has approved a US$19 billion supplementary budget to help households cope with rising cost of living linked to
00:08the Iran conflict.
00:09The Cabinet signed off on the additional spending package on Wednesday,
00:13with the measures aimed at easing the impact of higher petrol, electricity and gas prices.
00:20Chief Cabinet Secretary Minoru Kihara said the budget is designed to reduce economic risks linked to continued uncertainty in the
00:28Middle East,
00:28while also strengthening Japan's financial readiness against future shocks.
00:33Last month, Prime Minister Sanae Takeuchi said the funding would help relieve pressure on households facing rising energy costs.
00:41She also said Japan expects its oil supply to remain stable through to next spring, despite continued volatility in global
00:48energy markets.
00:49The Bank of Japan in April raised its inflation forecast and cut its economic growth outlook after the conflict pushed
00:56oil prices higher.
00:59The Bank of Japan
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