World
Japan will become the country with the third-largest military budget in the world
The Japanese government has approved a record defense budget of more than 9 trillion yen (about $58 billion), the largest in the country's history. The program, planned for fiscal year 2026, has increased by nearly 10% over the previous year to modernize the country's armed forces and address regional challenges.
A significant portion of the budget, about $6.2 billion, will be allocated to strengthening missile capabilities, including the acquisition of domestically produced missiles with a range of 1,000 kilometers.
The sharp increase in defense spending comes amid growing tensions with China, particularly following statements about Japan's possible involvement in the Taiwan issue.
As a result of this five-year rearmament program, Japan will become the country with the third-largest military budget in the world, after the United States and China.
To cover the growing burden of military spending, the country's authorities plan to raise several taxes, including the corporate profit tax and the income tax.
