According to information published by Liberty Times on August 25, 2024, Taiwan’s Ministry of National Defense will allocate a budget of more than NT$467.4 billion for various defense expenditures, with NT$145.8 billion ($US 14.5B.) specifically earmarked for “military investments” that cover research, development, and procurement. This marks an increase of NT$20.3 billion compared to the current fiscal year’s approved budget.
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The upcoming fiscal year is expected to reach a peak in payments for both domestic and U.S. military purchases, with nine major procurement projects requiring over NT$80 billion in funding. A significant portion of this will go towards land-based Harpoon anti-ship missiles, with an allocated budget exceeding NT$20.6 billion.
The Executive Yuan announced last week that the total central government budget for the next fiscal year, managed by the Ministry of National Defense, will include NT$145.8 billion for military procurement, a notable increase from last year’s figures.