Business & Finance
Extra funds push Taiwan’s defence spending past NT$1 trillion for the first time
Key Points
Taiwan’s cabinet approved a supplementary defence budget of NT$145.7 billion (US$4.6 billion) on Thursday, pushing the island’s total defence-related spending for this year above NT$1 trillion for the first time. The additional funding is expected to raise this year’s overall defence spending from 3.32 per cent of gross domestic product (GDP) to about 3.83 per cent, the highest level in decades. The supplementary budget, which still requires legislative approval, is aimed at plugging gaps...
Taiwan’s cabinet approved a supplementary defence budget of NT$145.7 billion (US$4.6 billion) on Thursday, pushing the island’s total defence-related spending for this year above NT$1 trillion for the first time.
The additional funding is expected to raise this year’s overall defence spending from 3.32 per cent of gross domestic product (GDP) to about 3.83 per cent, the highest level in decades.
The supplementary budget, which still requires legislative approval, is aimed at plugging gaps left...