Thursday , September 24 2020

Japan mulls raising defence budget to record $49 billion

Bloomberg

Japan is looking to raise defence spending to a record 5.3 trillion yen ($49 billion) for the year starting on April 1, partly to develop a next-generation fighter jet, the Nikkei reported, without saying where it obtained the information.
The amount compares with 5.26 trillion yen earmarked for defence for this fiscal year and includes more than 10 billion yen for developing a military jet to replace Japan’s F-2 fighter in the future, the report said. The plan will be part of the government’s overall annual budget to be finalized by the end of the month.
An increase in defence expenditure would mark the eighth consecutive year of expansion. Japan’s medium-term defence programme announced a year ago outlined spending of 27.5 trillion yen for the 2019-2023 period, up nearly 3 trillion yen from the previous five years. The country has been under pressure to step up military imports from the US.

About Admin

Check Also

Musk says Tesla has ‘a shot at record quarter’

Bloomberg Tesla Inc. Chief Executive Officer (CEO) Elon Musk is rallying the troops as the ...

Leave a Reply

Your email address will not be published. Required fields are marked *