Japan Seeks Record-Breaking Budget of Over $818 Billion
The Japanese government is expected to request a record-high budget for fiscal year 2027, exceeding 130 trillion yen (around $818 billion USD). This would be a significant increase from the current fiscal year's initial budget of 122.31 trillion yen.
The Ministry of Defense plans to seek a record 8.9 trillion yen, with key spending areas including interceptor drones, artificial intelligence in command-and-control systems, and long-range missiles with counterstrike capabilities.
Expenditures on social security are expected to rise by around 390 billion yen due to Japan's aging population. The government has launched a major budget drafting reform without setting limits on some investment projects, contributing to the large increase in overall budget requests.