Thursday, February 29

Most Significant Japan Defense Budget Grows by 16.5%

Home” Military” Biggest Japan Defense Budget Grows by 16.5%

Japan authorized a record 7.95 trillion yen or $55.9 billion defense budget plan for Fiscal Year 2024, which starts on April 1 next year. This is a 16.5 percent boost from FY2023’s spending plan of 6.8 trillion yen or $47.7 billon. The strategy is to increase up until it reaches 8.9 trillion yen or $62.5 billion in FY2027.

Japan prepares to invest 43 trillion yen or $302 billion on defense in the timeframe of 2023-2027.

In 2024, there is $8.78 billion for incorporated air and rocket defense abilities. Rocket defense is to counter North Korean rockets. They will include 2 Aegis System Equipped Vessels (ASEV) destroyers for $2.6 billion which will cover building of the very first vessel in FY2024 and initial expenses for the 2nd ship which will start building in FY2025.

The strategies consist of acquiring counterstrike ability by releasing long-range cruise rockets as early as 2026.

Brian Wang is a Futurist Thought Leader and a popular Science blog writer with 1 million readers monthly. His blog site Nextbigfuture.com is ranked # 1 Science News Blog. It covers numerous disruptive innovation and patterns consisting of Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.

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