TAIPEI (Taiwan News) — The Legislative Yuan on Tuesday (Nov. 23) passed a NT$240-billion (US$8.63-billion) extra budget for the Navy and Air Force to be spent on missiles and drones.
The funds, to be spread out over five years, came on top of the existing NT$471.7-billion defense budget for 2022. The weapons systems to be procured under the new program will be primarily produced in Taiwan, CNA reported.
The eight items in the budget include coast-based anti-ship missiles, anti-air missiles, long-range precision missiles, vessels for the Navy and Coast Guard, drones, Wan Chien air-to-ground cruise missiles, and Hsiung Sheng missiles.
Legislators mentioned China’s military modernization and increasingly aggressive behavior as the motivation behind the extra budget. The project would both strengthen Taiwan’s defense capability and contribute to the domestic economy, according to supporters.
Each year before the end of May, the Ministry of National Defense will have to present a written report to the Legislative Yuan about the progress of the previous year's procurement and the spending plans for the upcoming year.