Japanese Gov't Approves 2025 Draft Budget With Record Defense Spending

The total budget for the fiscal year starting April 1 is 115.54 trillion yen ($732.23 billion), of which more than 10%, or 8.7 trillion yen, is expected to be spent on defense, the news agency said, adding that the draft budget will later be reviewed during the January session of the Japanese parliament.

The upcoming defense budget reportedly includes spending on the development of long-range missiles to improve the country's military capabilities to target enemy bases. The plan also provides for boosting the ability to strike adversaries outside of their attack range and increasing drone capabilities.

The education budget will be 5.55 trillion yen ($35.17 billion), while the social budget will be 38.28 trillion yen ($4242.6 billion).

By 2027, Japan plans to increase its total defense spending from 2023 to 43 trillion yen (about $273 billion). Thus, the defense budget is expected to increase every fiscal year. However, the Japanese government has yet to decide on the source of defense funding, as Prime Minister Shigeru Ishiba has advocated raising corporate taxes, an initiative that has many opponents even within Ishiba's ruling Liberal Democratic Party.