Japan’s Defense budget is $285 bn: Spending Hike Is Eaten by Inflation

In December 2022, Japanese Prime Minister Kishida Fumio’s cabinet approved three key security documents, including plans to increase defense spending to 43 trillion yen from fiscal year 2023 to 2027 to fundamentally reinforce national defense capabilities. This will increase Japan’s defense spending to the NATO standard of 2 percent of the gdp.

A weaker yen and recent price surges are causing headaches for Japan’s defense budget.

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