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Realtime News
Defense Spending to Reach 2.45% of GDP in 2025
Posted on 2024-08-23 07:00:13
The Cabinet has approved a defense budget of 647-billion N-T for 2025...

That figure represents 2.45-per cent of the island's G-D-P.

In the defense budget: 181.5-billion N-T for personnel costs and
148.7-billion N-T for military equipment, ammunition, and equipment
maintenance.

Spending on military investment will increase by 20.3-billion N-T... the
defense ministry is also expected to set aside 90.4-billion N-T as a special
budget to purchase military aircraft and other equipment to upgrade sea and
air defense capabilities.

Although 2025's total defense budget is a decline of zero-point-zero-five
percentage points from this year, the defense ministry is denying the
government is cutting its defense budget for next year - stressing that
expenditure has seen "steady increases" in recent years.

Defense officials say raising the annual defense budget to 3-per cent of
G-D-P remains "a goal," but in the meantime it will draw up allocation plans
according to the country's "defense needs" and "financial situation."

The 2025 budget proposal will be sent to the Legislative Yuan for approval at
the end of this month.

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