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▼ Defense Ministry Seeks Record Y5.26 Tril Budget
- Category:Event
TOKYO - Japan's defense ministry is set to ask for record defense spending of 5.26 trillion yen ($48.12 billion) for the year starting April 1, as it upgrades ballistic missile defenses against possible North Korean military action, according to a draft document seen by Reuters.
F
ears about North Korea's missile and nuclear development have grown in recent weeks as Pyongyang in July launched intercontinental ballistic missiles (ICBM) and said this month it was considering plans to fire missiles toward the U.S. Pacific territory of Guam.
While the North later said it was holding off firing towards Guam, regional tension remains high.
The ministry will request a 2.5% hike in defense spending, way above forecasts, according to the a defense paper, which if approved it will be the sixth straight annual increase as Prime Minister Shinzo Abe bolsters his nation's military.
A chunk of the money will be used to purchase the first batch of SM-3 Block IIA missiles, which are designed to hit warheads in space before they plunge to their targets, a Japanese government source said.
The new munition has more than double the range of missiles currently loaded on Japan's ballistic missile defence destroyers in the Sea of Japan.
"Any easing in defense spending increases would send the wrong message to North Korea and China," the source said, asking not to be identified because he was not authorised to talk to the media.
Other spending in the proposed Japanese defense budget includes 88.1 billion yen for six more F-35 stealth fighters, 70 billion yen for a new submarine and 100 billion for two compact warships that will reinforce Japan's navy in the East China Sea where it faces growing Chinese naval power, he added.
The proposed budget, however, may be pared back by Ministry of Finance officials who must juggle growing outlays on health and social spending as the nation's population ages.
A five-year government defense plan that runs until the end of March 2019 stipulates that annual defense budget increases, minus spending to maintain U.S. military bases, should be limited to 0.8%. Japan over the past four years has largely stuck to that rate of increase.
© Thomson Reuters 2017.
F
ears about North Korea's missile and nuclear development have grown in recent weeks as Pyongyang in July launched intercontinental ballistic missiles (ICBM) and said this month it was considering plans to fire missiles toward the U.S. Pacific territory of Guam.
While the North later said it was holding off firing towards Guam, regional tension remains high.
The ministry will request a 2.5% hike in defense spending, way above forecasts, according to the a defense paper, which if approved it will be the sixth straight annual increase as Prime Minister Shinzo Abe bolsters his nation's military.
A chunk of the money will be used to purchase the first batch of SM-3 Block IIA missiles, which are designed to hit warheads in space before they plunge to their targets, a Japanese government source said.
The new munition has more than double the range of missiles currently loaded on Japan's ballistic missile defence destroyers in the Sea of Japan.
"Any easing in defense spending increases would send the wrong message to North Korea and China," the source said, asking not to be identified because he was not authorised to talk to the media.
Other spending in the proposed Japanese defense budget includes 88.1 billion yen for six more F-35 stealth fighters, 70 billion yen for a new submarine and 100 billion for two compact warships that will reinforce Japan's navy in the East China Sea where it faces growing Chinese naval power, he added.
The proposed budget, however, may be pared back by Ministry of Finance officials who must juggle growing outlays on health and social spending as the nation's population ages.
A five-year government defense plan that runs until the end of March 2019 stipulates that annual defense budget increases, minus spending to maintain U.S. military bases, should be limited to 0.8%. Japan over the past four years has largely stuck to that rate of increase.
© Thomson Reuters 2017.
- August 24, 2017
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