Japan’s FY 2024 defense budget expands to record 7.9 tril. yen
The Japanese government approved a record-high 7.9 trillion yen ($56 billion) defense budget for fiscal 2024 on Friday, as the nation continues to invest in longer-range strike capabilities under a five-year plan to fundamentally revamp its defense posture.
The draft initial budget for the next fiscal year that begins in April jumped 16.5 percent from the previous record-high of 6.8 trillion yen in the current fiscal 2023 and marked an increase for the 12th consecutive year.
The spending plan is in line with a government decision late last year to pour in a combined 43 trillion yen to defense ...