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Japan to take measures to tackle inflation


July 14, 2022, Japan, Tokyo: Japanese Prime Minister Fumio Kishida delivers a speech at his official residence in Tokyo. Photo: Pool/ZUMA Press Wire/dpa

The Japanese Prime Minister, Kishida Fumio, has indicated Thursday that he will take measures to address the impact of the rising cost of living in the Asian country.

Kishida said at a press conference that he will continue to implement efficient and sound measures to protect people’s livelihoods from both a global and regional perspective, as reported by NHK News.

The Government of Japan will take advantage of an existing funding program to provide 1 billion yen to households experiencing financial difficulties.

It has also made public a new mechanism to help the agricultural industry cope with the sharp rise in fertilizer prices. Kishida has assured that the funds will be available from this month.

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The president has also spoken about the need to ensure a stable supply of electricity amid concerns that it will be in short supply during the winter.

In this regard, he explained that he has instructed the Minister of Economy, Trade and Industry to put up to nine nuclear power plants and ten thermoelectric plants into operation.

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