Taiwan sharply increases military spending

Taiwan will increase defense spending next year by a record nearly 14%, President Tsai Ing-wen’s administration said in a statement. The total spending will be $19.4 billion, or 2.4% of GDP, according to Reuters. Taiwan’s Defense Ministry said in a statement that the new budget is in line with the principle of “preparing for war without seeking war.” The increase in the military budget is due mainly to operating expenses for fuel, maintenance of aircraft and ships needed to counter Chinese military activity near Taiwan, and not to purchase new weapons.

Taiwan’s defense spending has risen for the sixth year in a row. Typically, annual growth was no more than 4%. The reason for the significant increase in the budget this year was the escalation of the conflict with China, which considers Taiwan its territory. The Chinese People’s Liberation Army (PLA) held the largest ever military exercise around Taiwan since US House Speaker Nancy Pelosi’s visit to Taipei on Aug. 3. China assessed this visit as an attempt by the United States to interfere in the internal affairs of the country.