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Tuesday, September 2, 2014

Japan's defense ministry wants record-breaking budget

TOKYO -- The Japan's Ministry of Defense seeks for a $48.1 billion in the fiscal 2015 budget to boost its capabilities amid China's oceanic advances and other shifts in the security environment.
                Prime Minister Shinzo Abe's security-focused administration pushed defense-related spending back up in fiscal 2013, and this fiscal year's spending was raised to 4.88 trillion yen.
                The budget covers special expenditures such as government aircraft, but it still mirrors an insistent stance by the defense ministry.
Ministry's demand budget will also provide additional equipment to secure remote islands.
The budget will be able to accommodate five Ospreys, transport planes with vertical takeoff and landing capabilities, to ferry Ground Self-Defense Force units between islands. Also included are three Global Hawk drones for monitoring in the East China Sea and six cutting-edge F-35 stealth fighters.
The payments on aircraft and ships are lawfully limited to five years or less, but the defense ministry’s plan is to have the Diet next year grant a measure permitting longer contracts.
The medium-term defense program plants necessary spending for the next five years at 24.67 trillion yen, of which 700 billion yen will be secured through these equipment procurement reforms.