2024-03-06 05:10:56
The Japanese government is concerned about China’s plans to increase its defense budget. This was stated at a press conference in Tokyo by General Secretary of the Cabinet of Ministers Yoshimasa Hayashi, Day.Az reports with reference to TASS.
“China is rapidly expanding its military power without transparency. This is of grave concern to Japan and the international community,” he said when asked to comment on Beijing’s intentions.
At the opening of the 2nd session of the 14th National People’s Congress (Parliament), the government report, socio-economic development report and draft budget for 2024 were published. The government plans to increase defense spending by 7.2% in 2024. The draft military budget was drawn up in the amount of 1.6 trillion yuan (approximately $231 billion). In 2023, China set a goal to increase defense spending by 7.2%, to 1.5 trillion yuan (about $224.85 billion).
In 2022, the Japanese government, in turn, approved an updated national security strategy, which envisages an increase in defense spending by 2027 to 2% of GDP, following the model of NATO. According to the draft budget, in the 2024 fiscal year (will begin in April – TASS note), defense spending will increase to about 7.92 trillion yen ($55.6 billion), which is about 16.5% more than the same expenditure item in the current year. The funds are planned to be spent on the acquisition of long-range missiles made in Japan as part of previously set goals to strengthen counterattack capabilities. In addition, the budget includes the cost of developing a next-generation fighter jet jointly with the UK and Italy.
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