Japan's main ruling party says the country's defense budget should be raised to at least two percent of GDP within about five years. The figure would bring spending on par with the target shared by members of NATO.

The increase, which includes coast guard expenses, comes in a set of proposals drafted by the Liberal Democratic Party's Research Commission on Security.

The budget stood at 1.24 percent of GDP in fiscal 2021.

The draft also says Japan should possess the ability to strike enemy missile bases, plus command and control functions, within the bounds of the nation's exclusively defense-oriented policy.

The panel says rapid advances in missile technology mean Japan may not be able to defend itself with interception abilities alone.

The draft comes after the government said it will revise the national security strategy and two other security documents by the year-end.

The panel is due to finalize the proposals by the end of April.