Home GRASP GRASP/Japan Defense ministry seeks record Y5.26 tril budget

Defense ministry seeks record Y5.26 tril budget

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Japan’s defense ministry is set to ask for record defense spending of 5.26 trillion yen ($48.12 billion) for the year starting April 1, as it upgrades ballistic missile defenses against possible North Korean military action, according to a draft document seen by…
Japan’s defense ministry is set to ask for record defense spending of 5.26 trillion yen ($48.12 billion) for the year starting April 1, as it upgrades ballistic missile defenses against possible North Korean military action, according to a draft document seen by Reuters.
Fears about North Korea’s missile and nuclear development have grown in recent weeks as Pyongyang in July launched intercontinental ballistic missiles (ICBM) and said this month it was considering plans to fire missiles toward the U. S. Pacific territory of Guam.
While the North later said it was holding off firing towards Guam, regional tension remains high.
The ministry will request a 2.5% hike in defense spending, way above forecasts, according to the a defense paper, which if approved it will be the sixth straight annual increase as Prime Minister Shinzo Abe bolsters his nation’s military.

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