Cabinet approves Friday of fiscal year government budget plan beginning April
Tokyo … News Time
Japan is expanding its defense budget for the eighth consecutive year, bringing it to a record 5.3 trillion yen (about $ 48.5 billion). The cabinet approved the fiscal year government budget plan beginning April next Friday. The defense budget is about $ 5.1 million higher than the current budget this fiscal year. About $ 23 billion 40 million will be allocated for fiscal year 2021 and beyond. About $ 100 million will be allocated for the design fees for the next-generation Stealth Fighter Jet, replacing the outdated F-2 with the Air Self Defense Force. Money is also being allocated to make Izumo the largest naval self-defense force in practice. The cost of obtaining a US-made 6-figure F-35 stealth fighter has also been included in the budget. These aircraft will be for the refurbished Izumo ships. Direct purchase of defense equipment from the US government will reach about $ 43 billion. It will be the third highest value, but will be lower than the record value this year.
