Taiwan Proposes , Increasing Defense Spending , Amid Chinese Aggression.
On August 25, Taiwan announced that it would increase its defense spending in the weeks after China conducted military drills in the Taiwan Strait.
'Newsweek' reports that the Taiwanese government will spend $19.41 billion on the military in 2023.
The record-high amount is a year-on-year increase of 13.9% and includes a $3.58 billion special budget for defense equipment.
The record-high amount is a year-on-year increase of 13.9% and includes a $3.58 billion special budget for defense equipment.
According to officials, defense spending would account for less than 15% of Taiwan's total expenditure in 2023.
According to officials, defense spending would account for less than 15% of Taiwan's total expenditure in 2023.
Military spending would come in fourth behind social welfare, education and economic development.
According to Statistics Minister Chu Tzer-ming, , a majority of the budget would go to military operational costs.
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Warplanes need to take off and warships put out to sea.
These lead to higher expenses, Chu Tzer-ming, Taiwan's Statistics Minister, via 'Newsweek'.
Taiwan's Defense Ministry said the increased budget would help drive Taiwan's fighter- and shipbuilding efforts.
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Taiwan's Defense Ministry said the increased budget would help drive Taiwan's fighter- and shipbuilding efforts.
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The extra funding would also go toward improving Taiwan's reserve forces and developing asymmetric warfighting capabilities.
The extra funding would also go toward improving Taiwan's reserve forces and developing asymmetric warfighting capabilities.
The national defense budget must take into account the present enemy threat, the military operational needs, plans for force maintenance and buildup, and the government's finances, Taiwan's Defense Ministry, via 'Newsweek'.
The national defense budget must take into account the present enemy threat, the military operational needs, plans for force maintenance and buildup, and the government's finances, Taiwan's Defense Ministry, via 'Newsweek'
