Taiwan Will Spend Record $19.74 Billion on Defense Next Year

The goal of Taiwan’s new $19.74 billion military budget, which was unveiled by President Lai Ching-te, is to improve both self-defense and relations with democratic allies.

President Lai Ching-te announced on Tuesday that Taiwan’s defense budget is expected to reach a record T$647 billion ($19.74 billion) next year as the island seeks to expand connections with democratic allies and increase its defensive self-reliance.

In recent years, China—which views Taiwan as its own territory, an island with a democratic government—has increased the military and political pressure it uses to make these claims, which Taipei vehemently denies.

In a statement released by the Presidential Office, Lai stated, “We are committed to enhancing our self-defence capabilities and increasing cooperation with democratic partners to maintain peace and prosperity.”

China has been calling Lai a “separatist” and launching constant personal assaults against him since he assumed office in May. Soon after Lai took office, Beijing held military drills all around Taiwan.

There was no comparison to the defense budget for the current year in the statement. The government of Taiwan has already suggested allocating T$606.8 billion for defense in 2024.