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. .
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. .
Taiwan's Defense Ministry said
the increased budget would help drive
Taiwan's fighter- and shipbuilding efforts. .
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'