Japan's defence spending will increase more than 16 percent next year under a record military budget. The budget adopted by the Cabinet on 22nd Dec 2023, Friday also will further fortify the military with F-35 stealth combat jets and other American weapons as Japanese troops increasingly work with allies and take on more offensive roles. The 56 billion dollar defence budget for the 2024 fiscal year that begins in March marks the second year of a five-year military build-up programme. This is a new security strategy under Prime Minister Fumio Kishida's government adopted a year ago.&nbsp;<br />''<br />''The defence budget is part of a 794 billion dollar national budget plan that needs approval by the parliament. In another step underscoring a shift away from the country's self-defense-only principle, Japan partially lifted its ban on lethal weapons exports on 22nd Dec 2023, Friday by allowing shipments of weapons and components made in Japan under foreign licenses to the licensing nations. The move is the first major revision of the arms export ban since it was initially eased in 2014. Japan quickly approved the first shipment authorized by the step, agreeing to send to the United States surface-to-air Patriot guided missiles produced in Japan under a U.S. license. U.S. Ambassador to Japan Rahm Emanuel said in a statement that the scope, scale, and speed of Japan's security reforms have been unprecedented.<br />
News On AIR | December 23, 2023 11:16 AM
Japan's defence spending to increase more than 16 % next year under record military budget