Taiwan's Historic Defence Budget Increase Amid Rising Tensions
Taiwan plans a defence budget of T$949.5 billion for next year, representing 3.32% of its GDP, the highest since 2009. This decision comes as China increases military pressure and the U.S. urges Taiwan to boost its defence spending. New funding includes the coast guard as part of the defence budget.
Taiwan is set to allocate T$949.5 billion for defence in the coming year, a budget that accounts for 3.32% of its gross domestic product, the Central News Agency reported. This significant increase, the first to exceed 3% since 2009, underscores the island's response to escalating tensions with China.
The adjusted budget arrives amidst Beijing's enhanced military and political assertiveness towards Taiwan, a nation China regards as its territory. With growing pressure from the U.S. to invest heavily in military capabilities, Taiwan's government, led by President Lai Ching-te, aims to surpass 3% of GDP in defence spending starting next year.
Remarkably, Taiwan's budget will for the first time integrate coast guard expenses—a crucial move given its frontline stand-offs with China. The cabinet is poised to reveal comprehensive details, emphasizing military modernization with the development of indigenous submarines, as China's military advancements press on.
(With inputs from agencies.)
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- modernisation
- Lai Ching-te
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