Prime Minister Fumio Kishida on Monday instructed his defense and finance ministers to secure funds to increase Japan's defense budget to 2 percent of gross domestic product in fiscal 2027.Japan has long capped its annual defense spending at about 1 percent of GDP, or over 5 trillion yen ($36 billion). The Defense Ministry has said 48 trillion yen will be required for the next five years to improve the country's defense capabilities amid China's growing military strength and North Korea's missile development."The defense budget needs to be urgently increased within five years," Kishida was …READ FULL ARTICLE
