Taiwan unveiled its largest defense spending increase in more than a decade on Thursday amid rising military tensions with China.
President Tsai Ing-wen’s cabinet signed off on an 8.3 percent increase in military spending for the year starting January to $13.11 billion, its largest yearly gain since 2008, Reuters said.
If approved by lawmakers, it will be the highest since records started in 2001, data from the statistics agency show.
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“To react to the enemy’s threat and to ensure national security, the defense budget continues to grow stably,” Taiwan’s Defense Ministry said in a statement. It plans to spend more to purchase advanced weapons from overseas. China has denounced arms sales from the United States to Taiwan.