TOKYO : Japanese Finance Minister Shunichi Suzuki vowed on Monday to guide economic and fiscal policy in a"responsible" manner, as he urged lawmakers to enact a second extra budget with spending of $207 billion, backed mostly by new debt issuance.
Consumer inflation in the world's third largest economy hit a 40-year high in October, driven by food and energy prices, dealing a blow to consumers. Elsewhere, the United States may slow its aggressive interest rate hikes in coming months as inflation could peak out and as investors brace for a downturn.
While Japan's extra budget further strained the industrial world's worst debt load, at more than twice the size of the economy, Suzuki vowed to do his utmost to revive growth.
Source: News Formal (newsformal.com)
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