Japan will boost its defence budget for 2023 to a record 6.8 trillion yen ($55bn), or a 20-percent increase, in the face of regional security concerns and threats posed by China and North Korea.
Prime Minister Fumio Kishida’s cabinet approved the budget on Friday of a total 114.4 trillion yen ($863bn), from next April, which was pushed up mainly by the hefty increase in military spending and higher social security costs for a fast-ageing population
