• REUTERS

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Japan will hold off on setting a ceiling for next fiscal year’s defense spending, a draft of the government’s budget outline showed, underscoring resolve to beef up expenditure to counter China’s growing military presence.

Under the budget outline, the government will also set aside about ¥4.5 trillion ($33.24 billion) for Prime Minister Fumio Kishida’s flagship policy aimed at boosting investment in areas like green innovation and digitalization, the draft showed.

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