Taiwan boosts defence budget to record US$19 billion amid PLA sabre-rattling
- Next year’s spending – which needs approval from the legislature – is up 4.6 per cent from 2023, Premier Chen Chien-jen says
- Much of it will go towards improving the island’s defences against growing threats from Beijing, according to military officials
The spending – approved by the self-ruled island’s cabinet on Thursday – is up 4.6 per cent from 2023, Premier Chen Chien-jen told reporters in Taipei after a meeting on the government’s budget for next year.
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The defence budget – comprising NT$440.6 billion for the military, NT$94.3 billion for “special” expenditure, and NT$71.9 billion in supplementary funds – still needs final approval from the legislature.
“It accounts for 15 per cent of the spending,” Chen said, referring to the military portion in the overall budget of NT$2.88 trillion for next year.
Much of the spending will go towards improving the island’s defences against increasing threats from the PLA, which has rapidly expanded its presence in the Taiwan Strait and the region in recent years, according to Taiwanese military officials.
That includes NT$130.6 billion to develop new weapons, up NT$33.6 billion from 2023; NT$131 billion for operational maintenance costs, down NT$2.6 billion from this year; and NT$179 billion for personnel and training, an increase of NT$400 million.
Of the special funds, NT$45.3 billion will be used to buy new-generation warplanes from abroad, while NT$49 billion will finance a programme to improve the island’s air force and navy.