Japan plans to increase its defense budget for 2023-27 by more than 50 percent to 43 trillion yen ($318 billion)
The government aims to update 3 national doctrines such as the “National Security Strategy, National Defense Guidelines and Medium-Term Defense Program” by the end of the year.
Japanese Prime Minister Kishida Fumio received Defense Minister Hamada Yasukazu and Finance Minister Suzuki Shunichi to discuss the 5-year defense budget.
It is known that the Ministry of Finance, which aims for “financial health”, foresees a budget of 35 trillion yen, while the Ministry of Defense, which prioritizes national security, foresees a budget of 48 trillion yen.
Kishida, who brought his ministers together, instructed the 5-year national defense budget to be planned as 43 trillion yen (318 billion dollars).
If the planned volume is officially accepted, the defense budget will be increased by more than 50 percent.
In line with the instruction, the budget proposals of the ruling coalition will be taken and financing will be provided urgently to provide the necessary defense capacities.