TAIPEI (TVBS News) — President Tsai Ing-wen said Monday (Aug. 21) that Taiwan's national defense budget will reach a record high of NT＄606.8 billion at the briefing of 2024's government budget.
The 2024 defense budget proposed by the Cabinet, which includes funds and special budgets, is expected to amount to 2.5% of Taiwan's GDP. In 2016, the defense budget was NT＄359.6 billion.
"Taiwan must continue to strengthen its self-defense capabilities and demonstrate its determination in defending itself to ensure its national security and interests, as well as to gain more international support," Tsai said at the briefing.
In response to the accusations from opposition parties about Taiwan's national debt under Tsai's government, she said, "It's impossible for the government to falsify its accounts and for international evaluations to lie."
Tsai emphasized the debt during her terms in office only amounted to around NT＄400 billion, not NT＄2 trillion, as the opposition parties claim.
She also highlighted Taiwan's economic growth under her governing, stating that the "GDP has grown dramatically from NT＄17.5 trillion in 2016, when [she] took office, to NT＄23 trillion this year."
The 2024 national budget is expected to be released by the Cabinet Thursday.