Japan’s parliament approved an additional budget of 28.9 trillion yen against inflation.

Japan’s parliament passed an additional budget of 28.9 trillion yen ($208 billion) to cushion the impact of inflation.

The government plans to subsidize households as part of the supplementary budget to tackle the weak yen and rising prices.

The House of Representatives (Shuugiin) approved an additional budget of 28.9 trillion yen ($208 billion) to fight inflation.

With electricity and gas subsidies, a household is expected to save an average of 5,000 yen ($36) in January-September 2023.

The duration of the subsidy package provided to oil suppliers within the scope of the budget is also planned to be extended to next year.