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Japan’s parliament on Friday approved a hefty 29 trillion yen ($216 billion) budget aimed at countering rising food and utility costs and the weaker yen.
The extra spending, funded mainly by government bonds, is considered to help boost the economy but has added to concerns over the already heavy national debt.
Globally surging prices and a weakening of the yen have amplified costs for Japan’s imports, pushing inflation higher in an added burden for both consumers and businesses.
The latest stimulus package will provide about 5,000 yen ($37) in monthly subsidies for household electricity and gas bills, totalling about 6 trillion yen ($45 billion).
It also will finance coupons worth 100,000 yen ($680) for women who are pregnant or taking care of babies.
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