Bloomberg: Japan Military Seeks Record Budget as Threats in Region Mount
Japan’s Defense Ministry is seeking a record budget for the next fiscal year as the pacifist country is set to have some of the highest military spending in the world, with questions remaining as to how the government will finance the surge.
The ministry said Thursday it’s seeking ¥7.7 trillion ($52.6 billion) for the fiscal year beginning in April 2024, up 13% from the previous year. The amount would be nearly on par with military spending in France and Germany, based on 2022 figures provided by the Stockholm International Peace Research Institute.
Japan’s military spending could eventually leapfrog all of its Group of Seven peers except the US after Prime Minister Fumio Kishida pledged last year to increase defense spending by about 60% over the next five years.
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Japanese Ministry of Defense Seeks Record Budget
Japan military seeks record budget amid regional threats -- AP
Japan seeks record ¥7.7 trillion defense budget as buildup continues -- Japan Times
Japan unveils defense budget, seeking hypersonics, frigates, F-35s -- Defense News
Japan Releases $53B Defense Budget Focused on Shipbuilding, Fighters -- USNI News
Japan requests largest defense budget ever -- Naval News
Japan's Defense Ministry Requests Largest Ever Budget for Fiscal Year 2024 -- The Diplomat
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