TOKYO, May 14 (Xinhua) -- The Japanese government is weighing a supplementary budget for fiscal 2026 to cushion the blow of surging crude oil prices fueled by tensions in the Middle East, local media reported Thursday.
The government has already drawn upon emergency funds in the fiscal 2025 budget to finance relief measures for households bearing the brunt of rising living costs. However, amid concerns that the existing funds could be exhausted, calls from political parties for an additional budget have grown, Kyodo News reported.
Japan's fiscal 2026 budget was enacted on April 7. But the record 122.31 trillion yen (around 774 billion U.S. dollars) spending plan included no concrete measures to address soaring crude oil prices and broader economic fallout from the Middle East conflict, prompting opposition lawmakers to call on the government to consider compiling a supplementary budget. ■
