Social News XYZ     

Japan seeks record defence budget for FY 2018

Japan seeks record defence budget for FY 2018Tokyo, Aug 31 (IANS) Japan's Defence Ministry announced on Thursday a record-high budget request for fiscal 2018

The ministry's budget request, up by 2.5 per cent from this year's initial budget, totals 5.26 trillion yen ($47 billion) for the fiscal year starting from April 2018, reports Xinhua news agency.

The request was compiled by setting the dollar's exchange rate at 110 yen for fiscal 2018.

 

Part of the money would be used to introduce a new missile shield system but the amount was unspecified as it still needs to be hammered out with the US, said the ministry.

The ministry also requested 55.2 billion yen for the maintenance of facilities for Self-Defence Forces units stationed in Okinawa and 10 billion yen for developing technologies to create high-speed glide bombs for operations to "retake invaded remote islands".

The ministry is also eyeing allocating 11 billion yen for a research funding programme called National Security Technology Research Promotion, the same amount as fiscal 2017, but surging 37 times compared to the 300 million yen in fiscal 2015 when the programme was set up.

A state budget for fiscal 2018 will be compiled by the end of this year.

(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)

Facebook Comments
Japan seeks record defence budget for FY 2018

About VDC

Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.