- August 21, 2023
- Posted by: admin
- Category: Daily News
- Taiwan’s government intends to increase defence spending by 3.5% to a record TWD606.8 bn (USD19 bn) in 2024, according to the central government’s budget proposal.
- The overall budget plan includes increased social welfare spending, particularly related to Taiwan’s low birth rate and aging population.
- Additionally, the plan allocates funds for long-term care services for the elderly.
- The proposed defence budget would be the highest absolute amount ever allocated for defence in Taiwan, equivalent to around 2.5% of GDP. China, in comparison, announced a 7.2% increase in its defence budget for the coming year.
External Link : https://focustaiwan.tw/politics/202308210025