Japan Warns Against Debt for Defence
Japan's finance ministry cautioned against issuing new bonds to fund a massive defence spending increase. The government is weighing a plan to nearly double defence budgets for the coming years.
Japan's Ministry of Finance warned during a Thursday morning advisory panel meeting that new government bond issuances should not fund an impending defence buildup. The fiscal policy warning arrives as Tokyo weighs a 70 trillion yen to 80 trillion yen ($443 billion to $507 billion) defense expansion. The proposed budget nearly doubles the current five-year program of 43 trillion yen.
