Taiwan plans defence spending increase to counter rising China
Military expenditure targeted to rise to highest percentage of GDP since 1999
Taiwan plans to raise its defence spending next year in an attempt to offset China’s growing military might.
Defence spending is targeted to rise to 3 per cent of gross domestic product in 2018, up from about 2 per cent this year, Minister of National Defence Feng Shih-kuan told lawmakers in Taipei on Thursday. Taiwan plans to develop indigenous ships, aircraft, weapons and unmanned aerial vehicles capable of defence or offence, he said.
Taiwan’s defence expenditures have declined since the 1980s, when Taiwan spent more than 5 per cent of GDP on its military, according to data compiled by the Stockholm International Peace Research Institute. Taiwan hasn’t spent 3 per cent of GDP on the military since 1999, according to Sipri.
Defence Ministry spokesman Chen Chung-chi said defence expenditures last exceeded 3 per cent in 2008. “We hope for an increase to 3 per cent next year, but the government also needs to consider revenue and balance it among other ministries,” Chen said.