The Japanese government on Friday approved a record budget for the coming financial year to pay for everything from bigger defence spending to ballooning social security costs as inflation persists.
The 122.3 trillion yen (US$782 billion) budget for the financial year from April 2026 will include some 9 trillion yen for defence spending, as Prime Minister Sanae Takaichi aims to accelerate Tokyo’s sweeping upgrade of its military in the face of worsening relations with China.
The defence ministry…
Source: Japan’s record US$782 billion budget to boost military firepower, tame inflation
