Taiwan's Bold Defense Budget Proposal for 2024
Taiwan's cabinet plans to propose a substantial defense budget of T$949.5 billion ($31.27 billion) for the upcoming year, making up 3.32% of the GDP. The budget allocation includes essential funding for the coast guard, veterans, and special projects. Further details will be disclosed during the cabinet's news conference.
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- Taiwan
Taiwan's government is preparing to propose an ambitious defense budget totaling T$949.5 billion (around $31.27 billion) for the next fiscal year. This allocation will comprise 3.32% of the nation's gross domestic product, according to the Central News Agency on Thursday.
The proposed budget aims to bolster various sectors, including the coast guard, veterans' welfare, and special military-related projects. The initiative signifies Taiwan's commitment to strengthening its national defense amid regional uncertainties.
The cabinet is expected to hold a news conference later on Thursday to unveil more details about this significant budget plan, highlighting Taiwan's strategic priorities in defense spending for 2024.
(With inputs from agencies.)
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