Japan to Do More to Reduce Reliance on Overseas Energy, Food

Politics

Tokyo, Dec. 23 (Jiji Press)--The Japanese government aims to step up efforts to reduce the country's reliance on imported energy sources and food, whose prices have soared due to growing geopolitical tensions and a weaker yen.

Funding for measures to strengthen the country's energy and food security, such as those to promote energy conservation and domestic food production, was included in the government's fiscal 2023 budget plan, adopted Friday.

The government's fiscal 2022 second supplementary budget included stopgap measures to cushion the impact of rising prices on households. The fiscal 2023 budget plan features more drastic steps aimed at making the economy resilient to changes in imported goods prices.

As part of measures to enhance energy security, the industry ministry earmarked 26.1 billion yen to offer subsidies to companies introducing energy-saving equipment.

The government also plans to promote the use of nuclear energy. As part of the effort, it will promote the restart of idled nuclear reactors. It thinks that an increased use of nuclear power will help contain surges in electricity bills.

[Copyright The Jiji Press, Ltd.]

Jiji Press