Japan approves $42 billion defense budget

  • Japan has approved a $42 billion defense budget, which marks a third year of increased defense spending and represents a 2.8% increase from the last fiscal year, media reports stated.

    Gen Nakatani, the country’s defense minister, said the record allocation reflected the “changing situation” in the region, an oblique reference to China’s increasing assertiveness and the maritime disputes between the two countries.

    Nakatani said the defense spending was needed to protect the country’s “air, sea and land”.

    Prime Minister Shinzo Abe has often spoken in favor of reinterpreting Japan’s pacifist constitution.

    Tagged as: Japan, defence budget, defence spending, fiscal, Gen Nakatani, China, Shinzo Abe, business news