Japan’s Premier Vows to Secure Funding to Boost Defense: NHK

(Bloomberg) -- Japan’s Prime Minister Fumio Kishida said he will secure the necessary funding to build the defense capabilities required to respond to a deteriorating security environment surrounding Japan, NHK reported.

Most Read from Bloomberg

The country is experiencing the most severe and complicated security environment since the end of World War II, NHK cited Kishida as saying during an inspection ceremony for the Self-Defense Force at an air base near Tokyo.

The premier said he will strengthen defenses and rapidly proceed with the development of standoff missiles to achieve a counterattack capability, according to the report. The Air Self-Defense Force will be renamed the Air and Space Self-Defense Force by fiscal year 2027, strengthening its capability for space operations, NHK reported.

He made the comments as his cabinet is poised to approve 13.2 trillion yen ($87.1 billion) of extra spending for his latest economic stimulus package. The prime minister has still to resolve how he’ll fund an already announced boost in defense spending, as well as policies to reverse the low birthrate.

Read More: Japan Airs Concerns on China-Russia Drills in Defense Report

Most Read from Bloomberg Businessweek

©2023 Bloomberg L.P.