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Taiwan's 2021 budget to rise by 4%

NT$367 billion defense budget includes NT$29 billion for new warplanes: Premier Su

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Premier Su Tseng-chang

Premier Su Tseng-chang (CNA photo)

TAIPEI (Taiwan News) — Taiwan’s general budget for 2021 will increase by four percent next year, with defense accounting for the largest area of expenditure for the nation.

Premier Su Tseng-chang (蘇貞昌) said during a hearing in the country’s legislature on Tuesday (Sept. 29) that Taiwan's general budget for next year will be NT$2 trillion (US$720 billion), a year-over-year increase of four percent, the Liberty Times reported.

Chu Tzer-ming (朱澤民), minister of the Directorate-General of Budget, Accounting, and Statistics (DGBAS), said that the budget for the Ministry of National Defense (MND) next year will be the largest allocation at NT$367 billion — accounting for 17 percent of the total budget — followed by the budgets for the Ministry of Education at NT$261.3 billion, the Ministry of Health and Welfare at NT$248 billion, and local governments at NT$189.3 billion.

The premier explained that the NT$367 billion designated for the MND, which is an increase of NT$15.6 billion over 2020, includes a special budget of NT$29 billion for new warplanes.