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The 7.95 trillion-yen ($56 billion) defense budget for the 2024 fiscal year that begins in March marks the second year of the five-year military buildup program. The spending plan is part of a 112 ...
The following lists are of countries by military spending as a share of GDP—more specifically, a list of the 15 countries with the highest share in recent years. The first list uses the Stockholm International Peace Research Institute as a source, while the second list gets its data from the International Institute for Strategic Studies.
Japan's defence ministry made a record spending request on Thursday of 7.7 trillion yen ($52.67 billion), for fiscal 2024, the latest step of a plan to boost defence spending by 43 trillion yen ...
In the defence budget request for the year starting April 2024, which was published in August, that order was halved to 17 because the cost of the aircraft had jumped by around 5 billion yen each ...
In December 2020, Suga's government approved a record 5.34 trillion yen ($51.7 billion/€42.4 billion) defence budget for the fiscal year 2021. This includes investment in the development of stealth fighter jets, new long-range missile systems and new compact warships, with the goal to counter potential threats from China and North Korea.
Initial FY 2024 ASEV funding was set at 373.1 billion yen (US$2.6 billion), a slight reduction from the 379.7 billion yen (US $2.64 billion) that the Japanese Ministry of Defense had sought in its initial FY 2024 budget request submitted in August 2023. [81]
In December 2022, Japan announced a new national security strategy. This new strategy would increase all "national security-related spending" to 2 percent of Japan's GDP, while increasing the military budget from 5.4 trillion yen ($40 billion) in 2022 to 8.9 trillion yen ($66 billion) by 2027, up 65%.
This fiscal year's defense budget includes an an additional $1.3 billion for "audit services, support, remediation and financial systems" in the push to pass the next audit.