Japanese government confirms record defense budget

(Patria) - Japanese defense spending will increase by more than 16 percent next year in line with a record military budget approved by the government on Friday, which will accelerate the deployment of long-range cruise missiles capable of hitting targets in China or North Korea.

It will also further strengthen the F-35 military with fighter jets and other American weapons as Japanese troops increasingly work with allies and take on more offensive roles, AP reports.

The $56 billion budget plan for fiscal 2024, which begins in March, marks the second year of a five-year military buildup program in line with the new security strategy adopted by Prime Minister Fumio Kishida's government a year ago.

Strengthening offensive capabilities within the strategy represents a major break from Japan's post-war principle of limiting the use of force to self-defense.

Japan plans to spend $300 billion by 2027 to strengthen its military power and nearly double its annual spending to about $68 billion, making Japan the third-largest military spender in the world after the United States and China.

This move further fuels the continuous growth of Japan's arms spending for the 12th year.