11/28/2022, 12:22 PM (Source: TeleTrader)
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Japan's PM asks for defense budget increase

Japan should increase its defense budget to 2% of GDP, Prime Minister Fumio Kishida told Defense Minister Yasukazu Hamada and Finance Minister Shunichi Suzuki on Monday.

The boost will be introduced in 2027 as part of Japan's aim to strengthen its security following China's military presence near Taiwan and the launch of North Korean missiles near Japanese waters. Instructing the defense and finance minister, Kishida said the budget will also account for scientific research and infrastructure.

The finalized budget and financial resources will be decided by the end of December.

Baha Breaking News (BBN) / KB