Kishida Wants Measures to Fight Rising Prices by End-April

Politics Economy

Tokyo, March 25 (Jiji Press)--Japanese Prime Minister Fumio Kishida said Friday he will instruct cabinet ministers next week to craft emergency measures by the end of April to cushion the impact of rising prices.

At a ministerial meeting, Kishida also said his government will extend its subsidy program to help curb soaring gasoline prices by one month until the end of April.

"We need to respond flexibly to the impact on people's lives and economic activities from surging prices for crude oil and other products amid the Ukraine crisis," Kishida said.

The government plans to use reserve funds set aside under its fiscal 2022 budget to finance the emergency measures expected to focus on near-term support for households and businesses.

Believing that prices will remain elevated for a long time, the government is also considering compiling a supplementary budget to cover additional measures after this summer's election for the House of Councillors, the upper chamber of parliament.

[Copyright The Jiji Press, Ltd.]

Jiji Press