Japanese Finance Minister Shunichi Suzuki vowed to guide economic and fiscal policy in a “responsible” manner, as he urged lawmakers to enact a second extra budget with spending of $207 billion, backed mostly by new debt issuance. | Reuters
“There’s also a concern about global recession,” he said. “We must overcome this crisis.”
Elsewhere, the United States may slow its aggressive interest rate hikes in coming months as inflation could peak out and as investors brace for a downturn. While Japan’s extra budget further strained the industrial world’s worst debt load, at more than twice the size of the economy, Suzuki vowed to do his utmost to revive growth.
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