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Politics

Japan's defense spending likely to exceed 1% of GDP

Defense ministry request for FY2023 budget to surpass $43bn

The Self-Defense Forces' Type 12 surface-to-ship missile system. Japan intends to beef up its defense capability as tensions tighten around Taiwan and Russia sustains its attacks in Ukraine.   © Kyodo

TOKYO -- Japan's defense budget is expected to exceed 6 trillion yen ($43 billion), more than 1% of gross domestic product, for fiscal 2023 as the country hastens to improve its defense capabilities in the face of growing geopolitical risks.

The Ministry of Defense finalized its budget request on Wednesday. It asks for 5.59 trillion yen, the highest figure ever.

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