PNN – The Japanese government has approved an unprecedented defense budget for the next fiscal year, aiming to address increasing security challenges.
According to the report of Pakistan News Network citing Al Jazeera, the Japanese government on Friday approved an unprecedented budget for the next fiscal year, exceeding 122.3 trillion yen (approximately $784.6 billion), as Tokyo seeks to balance fiscal stimuli with concerns about mounting debt.
Japan has stated that it is implementing this record increase in defense spending to address growing security challenges in the region.
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The Japanese government announced that this budget, which begins in April 2026 and will be presented to parliament early next year, is the largest budget in Japan’s history, surpassing this year’s budget of 115.2 trillion yen.
The government also approved a record defense budget of about 9 trillion yen (approximately $58 billion), a 9.4% increase from the previous year, as part of a five-year plan to double military spending to 2% of GDP.
This budget includes allocating over 970 billion yen to enhance long-range missile capabilities, including the procurement of domestically produced “Type 12” missiles with a range of about 1,000 kilometers, and also encompasses strengthening drone arsenals and coastal defense capabilities.
These actions by the Japanese government come amid heightened regional tensions, particularly with China, which was described as the “greatest strategic challenge” in Japan’s 2022 National Security Strategy.
The approval of Japan’s largest defense budget in history comes as the country holds the highest debt ratio among developed nations, with debt exceeding twice the size of its economy, and faces greater challenges related to increasing borrowing costs.