By Alimat Aliyeva

The Japanese government has decided to allocate additional subsidies in the amount of 989.1 billion yen (almost $6.8 billion) to reduce tariffs for electricity, household gas, gasoline, etc, Azernews reports.

This will practically exhaust the subsidy fund for reducing consumer prices, primarily for energy resources, allocated in the current fiscal year, which will end on March 31, 2025. These funds are sent to private companies as compensation for the fact that they restrain the growth of tariffs for the population.

According to the official forecast, in fiscal year 2024, the overall consumer price index in the country will increase by about 2.5% compared to the level of the previous year. At the same time, tariffs for electricity and household gas, as well as gasoline, are especially increasing.

This is due to the rise in price of imported energy resources, which Japan buys almost entirely abroad.