Cabinet approves record NT$1.1225tn defense budget for next year

DEFENSE PORTION: The defense budget would account for 3.01% of the projected GDP for this year, and includes funding for drones, missiles and the coast guard The Cabinet yesterday approved the central government’s budget proposal for next year, which would allocate NT$1.1225 trillion (US$35.16 billion) for defense, or 3.01 percent of projected GDP.President William Lai (賴清德) has set a goal of keeping Taiwan’s defense budget above 3 percent of GDP while gradually increasing the share to 5 percent by 2030.The defense spending plan — an 18 percent increase from this year — includes NT$691.9 billion in the Ministry of National Defense budget, NT$218.2 billion in special budgets and NT$60.7 billion in nonprofit special funds, the Directorate-General of Budget, Accounting and Statistics (DGBAS)