Japan plans to allocate $318bn for defence until 2027
As noted by Japanese Prime Minister Fumio Kishida, the Government would allocate $318bn at the current exchange rate to ensure the country’s defence from 2023 to 2027, Kyodo reports
Mr. Kishida announced his decision at a meeting with Finance Minister Shinichi Suzuki and Defence Minister Yasukazu Hamada, stating that the funds would radically strengthen Japan's defence potential within five years.
Earlier, Mr. Kishida instructed to more than double defence spending by 2027 compared to the current level and bring their share to 2 percent of the country's GDP.
As reported, the Japanese Government is concerned about the situation observed around the country, since the DPRK is developing its nuclear missile programme too quickly and is conducting an increasing number of exercises.
