The government of right-wing conservative prime minister shinzo abe approved a draft budget of 5.26 billion yen (41 billion euros) for the defense budget in the coming fiscal year, which begins on 1 january. April begins, as reported by the media. The money is to be used, among other things, to finance increased spending on a missile defense system and fighter jets for the USA as a protecting power. Japan also wants to convert a ship designed for helicopters into an aircraft carrier in view of the rearmament of its neighbor china.
In view of the people’s republic’s military ambitions and the threat posed by north korea’s missile and nuclear programs, japan has been increasing its own defense spending for seven years in a row, despite a national debt of over 230 percent of gross domestic product.
In order to finance this expenditure, as well as rising social costs in view of the rapid aging of society, the government has approved a record budget totaling around 101.5 billion yen (790 billion euros) for the coming year. According to media reports, it will be submitted to parliament for approval in january.