Taiwan's Defense Spending Breaks New Ground Amid Heightened Tensions
Taiwan's cabinet plans to increase defense spending to T$949.5 billion next year, comprising 3.32% of GDP. The increase comes amid growing pressure from China and the United States to bolster military capabilities and follows Taiwan's focus on military modernization, including domestic submarine development.
Taiwan's cabinet has announced plans to allocate T$949.5 billion ($31.27 billion) for defense spending in the coming year, which will account for 3.32% of the nation's GDP. This marks the first time since 2009 that spending has surpassed the 3% threshold, according to Taiwan's Central News Agency.
The decision comes in response to increasing military and political pressure from China, which claims Taiwan as its territory. Taiwan has also faced calls from the United States to invest more in its defense, similar to Washington's pressure on Europe. Recently, President Lai Ching-te expressed intentions to elevate defense spending beyond 3% of GDP.
The proposed budget includes funds for the coast guard and veterans, although specifics regarding the percentage increase from the previous year's budget have not been disclosed. Taiwan's government emphasizes military modernization, referencing China's rapid advancements and ongoing regional tensions.
(With inputs from agencies.)
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