mandag 6. desember 2021

Japan Approves Record Extra Defense Budget

The cabinet of Japanese Prime Minister Kishida Fumio approved on November 26 773.8 billion yen ($6.7 billion) defense spending in the fiscal 2021 supplementary budget amid growing military threats from North Korea, China, and Russia. Including U.S. Forces realignment-related expenses allocated for mitigating impacts on local communities, this marked a record figure for defense appropriations in history in an extra budget.

Combined with the nation’s highest-ever 5.34 trillion yen initial budget for fiscal 2021, started in April, the total defense budget for this fiscal year reached more than 6 trillion yen for the first time, hitting a record high for the seventh straight year and surpassing the long-standing cap of 1 percent of gross domestic product.