The Japanese government plans to approve a record military budget of 7.7 trillion yen ($53 billion) for 2024, the agency reported. Kyodoby quoting sources.
According to the agency, this amount significantly exceeds the current year’s budget, which was once a record (6.8 trillion yen, or $46.9 billion).
The funds will be used to purchase Japanese-made long-range missiles, as well as to develop a new generation fighter jet produced jointly by the UK and Italy.
It is stated that Japan plans to increase its total defense expenditures to 43 trillion yen ($296 billion at current rates) in five years by 2027. It follows from this that defense expenditures will increase every year.
The publication also states that the government has not yet decided on the funding source.
Also, the Japanese government will highlight 400 million yen (about $2.8 million) as part of the Malaysian security assistance program.
Previously in Japan I started to worry Due to the strengthening of the alliance between the Russian Federation and China.