2023-12-22 10:42:43
MADRID, 22 Dic. (EUROPA PRESS) –
The Government of Japan approved this Friday a record Defense budget for the 2024 financial year, which means increasing the total budget of the Japanese Executive to more than 112,000 million yen (regarding 700 million euros) in the midst of an increase in tension. with China and North Korea.
This new budget for the new fiscal year, which runs from April 1, 2024 to March 31, 2025, includes 7.9 billion yen (regarding 50 million euros) for Defense, 17 percent more than during the year above, according to information from the Kiodo news agency.
The measure is part of the policy adopted by the authorities in 2022 to reinforce their national security and which proposes increasing their Defense budget to reach 2 percent of their GDP by 2027.
However, for the first time in 12 years, the overall government budget is expected to see a slight decrease compared to the previous year, which reached a maximum of 114 billion yen (approximately €728 million), although public debt of the country is around 255 percent of GDP.
The budget includes provisions for the construction of two new warships equipped with ‘Aegis’ anti-missile defense systems, developed by the United States, as well as reinforcements for the Asian country’s missile reserves.
Last November, the US Government approved the sale of 400 ‘Tomahawk’ cruise missiles to Japan for an amount of regarding 2.35 billion dollars (2.1 billion euros). In this sense, Tokyo plans to allocate some 75 billion yen (430 million euros) to the development of interception systems to shoot down hypersonic missiles.
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