Japan to plan ¥43 trillion for defense spending

Tokyo, The Gulf Observer: Japan is set to to ¥43 trillion ($295 billion to $318 billion) for defense spending over five years starting in the next fiscal year, which begins in April.

That would be a jump from the current five-year defense plan for spending ¥27.5 trillion, stoking worry about worsening one of the industrial world’s worst debt burdens, which amounts to twice the size of Japan’s annual economic output.