Taiwan's defence budget will hit new record next year, president says

Members of Taiwan’s armed forces participate in a drill as part of a demonstration for the media at a military base in Taitung

FILE PHOTO: Members of Taiwan's armed forces, riding on a M60A3 tank, participate in a drill as part of a demonstration for the media to show combat readiness, ahead of the Lunar New Year holidays, at a military base in Taitung, Taiwan January 31, 2024. REUTERS/Carlos Garcia Rawlins/File Photo

Source: X03739

Taiwan's total defence budget is set to reach a new high of T$647 billion ($19.74 billion) next year as the island seeks to boost defensive self-reliance and cooperation with democratic partners, President Lai Ching-te said on Tuesday.

China, which views democratically governed Taiwan as its own territory, has ramped up military and political pressure over the past few years to assert those claims, which Taipei strongly rejects.

"We are determined to boost self-defence and deepen cooperation with democratic partners in a bid to ensure peace and prosperity," Lai was quoted as saying in a statement by the Presidential Office.

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Lai has faced sustained personal attacks from China since assuming office in May, with Beijing calling him a "separatist". China staged war games around Taiwan shortly after Lai's inauguration.

The statement did not provide a comparison to the defence budget for this year. Taiwan's government had proposed overall defence spending of T$606.8 billion for 2024.

This article was produced by Reuters news agency. It has not been edited by Global South World.

By Reuters