Tokyo, Sept. 13 (Jiji Press)–The Japanese government is considering adopting NATO’s defense expenditure calculation standard, which calls for accounting for coast guard budgets and other costs related to security as part of defense spending, we learned on Tuesday.
The move comes as Japan aims to significantly boost its defense capabilities within five years, while referencing efforts by NATO countries to ensure defense spending equal to at least 2% of gross domestic product.
Prime Minister Fumio Kishida has promised a huge increase in defense spending. The government is rushing to coordinate on the issue towards the end of the year.
Japan’s defense spending in fiscal year 2021 was around 1.09% of GDP by its current standards, but would have reached 1.24% by the NATO standard, approaching 1.49 % of Germany.
“It is important to view defense power as a national power that includes economic and other forces,” Finance Minister Shunichi Suzuki said at a press conference on Tuesday.
[Copyright The Jiji Press, Ltd.]
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