Taiwan urged to boost defence spending further despite 14 per cent rise in military budget
- Island’s defence ministry says military spending will account for 2.4 per cent of GDP next year, but some analysts warn more is needed to protect the island
- The People’s Liberation Army recently staged an unprecedented series of war games around the island, fuelling calls for Taipei to spend more on defence
The government’s highest administrative body, the Executive Yuan, has agreed an annual budget of NT$2.7 trillion (US$90 billion) for next year, including NT$586.3 billion for defence.
The figure is much higher than the NT$480 billion legislators from the ruling Democratic Progressive Party had previously called for.
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Taiwan’s defence ministry said part of the budget – NT$108.3 billion of which was listed as special spending – would be used to pay for 66 F-16V fighter jets it had ordered from the United States and the rest of this spending would be used to help upgrade the air force and navy.
It estimated that next year’s defence budget would account for 2.4 per cent of this year’s projected gross domestic product, up from 2.2 per cent the previous year.
The ministry urged the public to support the increased defence budget, which it said was necessary in the face of Beijing’s sabre-rattling and repeated crossings of the median line in the Taiwan Strait.
The budget proposal will be sent to the island’s legislative body to review before President Tsai Ing-wen signs it into law.