Home 14'Election World Business National Sports Others

Japan to spend US $42 Billion Military Budget


Jan 14,Tokyo: Japanese Prime Minister Shinzo Abe's government approved a record $42 billion military budget on Wednesday, with outlays rising for a third year to counter China's rising military might.

The draft budget for the fiscal year from April includes a 2.8 percent rise in defence spending to 4.98 trillion yen, for items such as planes, naval vessels and fighting vehicles to guard waters bordering China, which has a long-running dispute with Tokyo over Japanese-held islands in the East China Sea.