Defense accounts for 2.5 percent, Taiwan Media: Tsai Ing-wen's Last Total Budget Increases in Many Record Highs | Tsai Ing-wen | Taiwan | Total Budget | Overall | Authorities | Defense | Budget
On August 22, according to Taiwan media reports, the annual total budget of the Taiwan authorities will be finalized on the 24th. On August 21, the leader of the authorities, Tsai Ing wen, confirmed an annual income of approximately 2.71 trillion yuan and an annual expenditure of 2.88 trillion yuan, reaching a new high. Among them, the budget for reducing children was 120.1 billion yuan, and the overall defense budget was 606.8 billion yuan, setting a new historical record. At the same time, the Taiwan authorities will also repay 115 billion yuan in debt next year, reaching a new 23 year high.
This is the last total budget of Tsai Ing wen's tenure. In the total budget, the amount of social welfare expenditure is the highest and has also increased the most, with the long-term budget reaching 87.6 billion and the budget for reducing children reaching a new high of 120.1 billion.
In terms of overall defense budget, including funds and special budgets, it is expected to reach a record high of 606.8 billion yuan, accounting for 2.5% of GDP.
The report also stated that the Taiwan authorities will face a debt repayment of 115 billion yuan next year, the highest in 23 years.