Extra funds push Taiwan’s defence spending past NT$1 trillion for the first time
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.…
Taiwan's cabinet has approved a supplementary defence budget of NT$145.7 billion, pushing the island's total defence spending for the year above NT$1 trillion for the first time. The additional funding, still awaiting legislative approval, is expected to raise this year's overall defence spending to about 3.83 per cent of GDP, the highest level in decades.
The supplementary budget aims to plug gaps left after opposition lawmakers cut NT$470 billion from an eight-year NT$1.25 trillion special defence package proposed by the government.
Brief written by urgent.news from Reuters Business via SCMP's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
