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Japan needs $324bn over 5 years to bolster defenses: ministry

Figure nearly double current budget; will pay for counterstrike capability, ammunition

Japan's Self-Defense Forces hold a live-fire exercise. The ruling party has called for defense spending to be in line with NATO members.   © Reuters

TOKYO -- Japan will need to spend 48 trillion yen ($324 billion) on defense over the next five years if it wants to realize its strong security goals, according to estimates from the Defense Ministry.

The figure is 1.7 times the five-year defense spending from fiscal 2019, which stood at 27.47 trillion yen. The new five-year plan would start from fiscal 2023.

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