New Delhi

Japan has approved the biggest ever defence spending in its history as part of the $839 billion budget for 2023. The new budget, which was approved by the Japanese parliament, included an allocation of $51 billion for the defence ministry – over 30 per cent more than the previous year.

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The main reason behind the rise in defence spending can be attributed to the rise of nuclear missile tests by North Korea. The missiles have breached the border of Japan on multiple occasions and Prime Minister Fumio Kishida can be looking to bolster their defence for any such transgressions.

Earlier, Japan also approved a new security strategy which will allow an increase of around two per cent of GDP in defence spending by 2027. The other reason behind this step is to meet the NATO member guidelines – something that almost major member have adhered to in the recent past.

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Reuters reported that around $1.5 billion will be used to buy Tomahawk cruise missiles from the United States while more than $80 million will be used to produce surface-to-ship missiles.

Media reports also claimed that the budget report described Beijing as "the greatest strategic challenge ever to securing the peace and stability of Japan" and a "serious concern" for the international community. The main aim for Japan will be to increase its "counterstrike capacity".

"We plan to acquire all the Tomahawk missiles we need in the next fiscal year," a defence ministry official told reporters on the condition of anonymity according to Reuters.

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(With inputs from agencies)