Japan's Next Mid - Term Defence Program Estimated To Cost Over $320 Bil.
Japan's Defense Ministry has estimated that the next mid-term defense program should cost around 48 trillion yen, or about 325 billion dollars, over a five-year period.
The government is working to revise three key defense documents, including the mid-term program, by the end of the year in order to drastically enhance Japan's defense capabilities.
Ministry officials calculated the required spending for the mid-term program that starts from next April, when fiscal 2023 begins.
The projected 48-trillion yen is about 1.7 times the level set for the current mid-term program, which began in fiscal 2019.
The Finance Ministry says increasing defense expenditures will require stable financial resources.