ANKARA: Taiwan is planning to boost its defense spending by 6% to $19.76 billion next year, President William Lai Ching-te has said.
Lai proposed the plan to spend NT$647 billion ($19.76 billion) on defense next year, Focus Taiwan reported on Wednesday.
“We are determined to bolster our self-defense capabilities and strengthen cooperation with democratic partners” as part of efforts to “ensure peace and prosperity,” Lai said after being briefed by the Cabinet on its general budget plan for fiscal year 2025.
The proposed defense spending will be 6% higher than budget spent on defense this year.
However, Lai said that spending on social welfare, education, technology and culture will continue to be the largest share followed by economic development and defense.
Meanwhile, Taiwanese military is set to begin two-day live-fire artillery exercises in northern and central Taiwan.
The drills were scheduled to be held at the Keng Zikou shooting range in Hsinchu from Wednesday.
Source: Anadolu Agency