Cabinet ok’s 11.1% hike in defense spending as part of 2021 budget

  • 13 August, 2020
  • John Van Trieste
The Cabinet has approved a budget proposal for 2021 that includes an 11.1% hike in defense spending

The Cabinet has approved a budget proposal for 2021 that includes an 11.1% hike in defense spending. The Cabinet approved the proposal on Thursday.

 

The increased defense spending includes NT$29 billion (US$986 million) allocated for the purchase of new fighter jets.

 

Other spending increases will go towards public infrastructure, education, childcare, and long-term care for senior citizens and people with disabilities.

 

Due to the COVID-19 pandemic, the government’s annual revenue is down by 2.9%. Meanwhile, overall expenditures are up 4%. However, the proposal still maintains a budget surplus.

Comments

Latest Newsmore