Japan Passes 3.1 Trillion Yen Supplementary Budget to Counter Middle East Impact
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Japan's Diet passed a supplementary budget for the current fiscal year totaling over 3.1 trillion yen (approx. NT$610 billion) on June 5th to address the ongoing tensions in the Middle East. The bill was approved in a plenary session of the House of Councillors with support from the Liberal Democratic Party (LDP), Nippon Ishin, and the Democratic Party for the People. The largest item in the budget is a newly established 2.5 trillion yen 'Middle East Situation Response Reserve Fund' for emergency response to potential energy price surges.