TOKYO — The Japanese Cabinet on Friday approved a record 8.7 trillion yen ($55 billion) defense budget for 2025 as Japan accelerates building up its strike-back capability with long-range cruise missiles and starts deploying Tomahawks to fortify itself ...

By Makiko Yamazaki TOKYO (Reuters) -Japanese Prime Minister Shigeru Ishiba's cabinet on Friday approved a record $730 billion budget for the next fiscal year, while limiting new bond issuance to the lowest in 17 years on the back of record tax revenue.

Japan's government on Friday approved a record budget for the next fiscal year, ramping up spending on social welfare as the population ages, and defense to tackle regional threats. The $730 billion budget for the year from April 2025, approved by the Cabinet, includes $55 billion in defense spending.

Japan’s cabinet approved a record ¥115.5 trillion ($732 billion) budget for the fiscal year starting April 2025, setting up the minority government of Prime Minister Shigeru Ishiba for a key test of its longevity in getting the proposal approved by parliament.

Japan's cabinet on Friday approved a record $730 billion budget for the fiscal year starting in April, while limiting new bond issuance to the lowest in 17 years on the back of record tax revenue. The budget for the fiscal year that starts in April is estimated at 115.

Japan's defense budget grew to a record 8.70 trillion yen ($55 billion) for fiscal 2025, the government said Friday, as the country c

Japan’s Cabinet has approved the country’s largest-ever defense budget for the coming fiscal year — 8.7 trillion yen, or about $54.8 billion, a 9.7% increase from this year’s budget.

Populations are aging rapidly in much of the rich world, forcing governments to spend increasing amounts on pensions.