Japan Cabinet approves record $46B defense budget

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Source: Associated Post

Japanese Prime Minister Shinzo Abe’s Cabinet has approved the biggest 5.19 trillion yen (U.S. $45.82 billion) defense budget to bolster ballistic missile defense capability amid escalating threats from North Korea.

Under the plan endorsed Friday, Japan’s 2018 defense budget rises 1.3 percent from the current year. It would be the sixth annual increase under Abe, who ended a decade of military budget cuts since taking office in 2012. The defense spending is part of Japan’s 97.7 trillion yen national budget for 2018 — also the biggest of its kind.