16 October
Japan finance minister favors adoption of more spending measures
On Monday, Finance Minister Shunichi Suzuki said the government would take a responsible approach to conduct economic and fiscal policy. In addition to this, the head of Japan's Finance Ministry urged lawmakers to submit the extra $206 billion budget plan. It will mostly be funded by the issuance of new debt securities.
Japan's core consumer inflation accelerated to a 40-year high in October driven by rising food and energy prices. It had a great impact on consumers.
According to Shunichi Suzuki, Japan’s economy is going through hard times. Besides, he added that there were growing fears of global recession, and Japan must overcome the crisis.
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