Japan to curb electricity costs amid weak yen, recession risks, PM says

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Japan will take 'unprecedented' measures to curb rising electricity bills for households and businesses as a weak yen fans inflation and global recession fears pose big risks to the economy, Prime Minister Fumio Kishida said on Wednesday.

Japan's Prime Minister Fumio Kishida adjusts his face mask as he attends a news conference in Tokyo, Japan April 26, 2022. David Mareuil/Pool via REUTERS

In the past, the government has paid subsidies to fuel wholesalers to keep gasoline and kerosene prices low, but now policymakers are floating new ideas such as providing cash payouts and giving subsidies to utility firms to curb power price hikes.The government is also considering a subsidy scheme for consumer and industrial gas in the upcoming package, which would further increase the size of the fiscal layout involved, Kyodo reported on Wednesday.

To ease the pain of cost-push inflation for everything from food to energy, Japanese policymakers are urging firms to raise wages, which is essential to kick-start a sustainable growth cycle of higher wages, greater consumer spending and business investment.

 

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It’s a matter of time before Japon&South Korea disappear from the surface of earth.They should understand that America will not save them from the apocalypse .Their irrational politicians will be responsible for the destruction of their own people.

Risk, looming, possible all superlatives that say: we have been in a global recession for months!

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