Japan warns of rising prices as extra budget submitted to parliament

Finance Minister Shunichi Suzuki said Wednesday surging raw material prices due to Russia’s invasion of Ukraine may disrupt Japan’s economic recovery from the coronavirus fallout, as the government submitted to parliament a draft extra budget to fight inflation. “Uncertainty over the economic outlook has grown following the destabilization of prices and supply of crude oil and grain,” Suzuki said as he explained the urgent need to enact the 2.7 trillion yen ($21 billion) additional budget for the year that started in April. The budget will be used to finance part of a 6.2 trillion yen relief p…

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