Japan to supplement military spending in rush to bolster air and sea defences -Breaking
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© Reuters. FILE PHOTO Fumio Kishhida, Japanese Prime Minister, speaks at his press conference after he was reelected as prime minister by the parliament following a victory in November 2021 by his Liberal Democratic Party.Tim Kelly
TOKYO, Reuters – Japan will increase its record annual defense spending by $6.75 billion in an effort to boost air and maritime defenses. This is as it grows more worried about North Korea and China.
Fumio Kishida, Prime Minister of Japan, approved Friday’s outlay in a Supplemental Budget. Although such increases in defense spending are not uncommon, lawmakers will have to approve the outlay of 774 billion Japanese yen. According to Japan’s Ministry of Defence, this is the highest amount ever approved.
In its budget proposal, the defense ministry stated that “As Japan’s security situation worsens rapidly at an unprecedented pace”, and called for the urgent acceleration of the execution of different projects.
Japan can now, three months ahead of schedule, purchase surface to air missile launchers for islands in the East China Sea. Patriot PAC-3 anti-normative missile batteries will also be upgraded elsewhere.
China is increasing its pressure on Taiwan, causing Japan jitters. Beijing would control the island and bring Chinese forces within 100 km (62 miles) from Japan’s territory. This would put at risk key maritime trade routes which supply Japan oil and other goods. China could also gain unfettered access into the western Pacific by having these bases.
Defense ministry stated that Japan can also acquire maritime patrol planes, anti-submarine weapons, and military cargo aircrafts more quickly with the extra expenditure.
This additional outlay is due to Kishida’s party’s Oct election promise of almost doubled defence spending up to 2% of GDP (gross domestic product)
Over the decades, the nation that is pacifist has kept defense spending at 1% of GDP. It eased concerns both domestically and internationally about any return of militarism that brought Japan to World War Two.
Kishida’s Friday spending plan also contains prepayments to defense contractors for equipment they need to deal with the coronavirus disruptions which have impacted their finances.
Japan’s GDP stands at 1.3% when you combine the proposed supplemental spending with defense expenditures approved up to March 31.
($1 = 114.6300 yen)
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