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Japan government approves record US$782 billion budget
The Japanese government on Friday (Dec 26) approved a record budget for the upcoming fiscal year, to pay for everything from bigger defence spending to ballooning social security costs as inflation persists. The ¥122.3-trillion (US$782 billion) budget for the fiscal year from April 2026 will include some nine trillion yen for defence spending, as Prime Minister Sanae Takaichi aims to accelerate Tokyo's sweeping upgrade of its military in the face of worsening relations with China. The defence ministry said in a briefing document that "Japan faces the most severe and complex security environment since the end of the ... (full story)
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