Taiwan Proposes , Increasing Defense Spending , Amid Chinese Aggression.<br />On August 25, Taiwan announced that it would increase its defense spending in the weeks after China conducted military drills in the Taiwan Strait.<br />'Newsweek' reports that the Taiwanese government <br />will spend $19.41 billion on the military in 2023.<br />The record-high amount is a year-on-year <br />increase of 13.9% and includes a $3.58 billion <br />special budget for defense equipment.<br />The record-high amount is a year-on-year <br />increase of 13.9% and includes a $3.58 billion <br />special budget for defense equipment.<br />According to officials, defense spending <br />would account for less than 15% of <br />Taiwan's total expenditure in 2023.<br />According to officials, defense spending <br />would account for less than 15% of <br />Taiwan's total expenditure in 2023.<br />Military spending would come in fourth <br />behind social welfare, education <br />and economic development.<br />According to Statistics Minister Chu Tzer-ming, , a majority of the budget would <br />go to military operational costs. .<br />Warplanes need to take off <br />and warships put out to sea. <br />These lead to higher expenses, Chu Tzer-ming, Taiwan's Statistics Minister, via 'Newsweek'.<br />Taiwan's Defense Ministry said <br />the increased budget would help drive <br />Taiwan's fighter- and shipbuilding efforts. .<br />Taiwan's Defense Ministry said <br />the increased budget would help drive <br />Taiwan's fighter- and shipbuilding efforts. .<br />The extra funding would also go toward improving <br />Taiwan's reserve forces and developing <br />asymmetric warfighting capabilities.<br />The extra funding would also go toward improving <br />Taiwan's reserve forces and developing <br />asymmetric warfighting capabilities.<br />The national defense budget must <br />take into account the present enemy <br />threat, the military operational needs, <br />plans for force maintenance and buildup, <br />and the government's finances, Taiwan's Defense Ministry, via 'Newsweek'.<br />The national defense budget must <br />take into account the present enemy <br />threat, the military operational needs, <br />plans for force maintenance and buildup, <br />and the government's finances, Taiwan's Defense Ministry, via 'Newsweek'
