Japan seeks record budget, including in defense spending
Overall spending expected to hit $780 billion, with $52.6 billion for defense
By Riyaz ul Khaliq
ISTANBUL (AA) - Japan’s budget for the next fiscal year will see a record surge, if realized, including in defense spending, with the overall sum of around 114 trillion yen ($780 billion), an analysis by Tokyo-based Kyodo News said Thursday.
The government of Prime Minister Fumio Kishida is seeking the record amount after ministries submitted their budget demands. A final version by the Finance Ministry will be ready by December before it is proposed to parliament.
The Defense Ministry has sought a record 7.74 trillion yen ($52.6 billion).
It is expected to use the funds to build two destroyers equipped with a US-developed Aegis missile interceptor system.
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