Japan preparing record $53 billion military budget

The Japanese Ministry of Defence has begun negotiating the military budget for fiscal 2024, a record amount in the country's history of almost 7.739 trillion yen (more than $53 billion).

The new military budget envisages the expenses for the creation of a new squadron in southwestern Japan, equipped with the latest fifth-generation F-35B combat aircraft purchased from the US, Nikkei newspaper reports.

Funds will also be allocated for the construction of two additional destroyers with the Aegis combat system.

A naval transport detachment will be created to quickly transfer troops to remote islands in the East China Sea near Taiwan in case of a critical situation.