Japan intends to spend billions on self-defence forces over next years

Japan plans to spend $290 billion over the next five years to develop its self-defense forces.

The relevant project is currently being considered in the Japanese parliament, and was proposed by the ruling Liberal Democratic Party, the local Yomiuri newspaper reports.

For the fiscal year 2023, the ministry of defence plans to request up to $40 billion to be allocated for this purpose from the Japanese state budget, which would mean a 4% increase in military expenditure compared with the previous year. However, the publication points out that the proposed draft military budget does not yet specify specific amounts.

Therefore, it suggests that the final amount could rise to $45 billion, due to increased purchases of drones, missile defence systems and long-range missiles.