TAIWANESE President Tsai Ing-wen said today defence spending would reach a record US$19 billion (RM88.36 billion) in 2024, a demonstration of the island’s “determination to ensure national security”.

Tsai said in a statement defence spending was “expected to reach 2.5% of the GDP”. The proposed spending would be a 3.5% increase from 2023’s US$586.3 billion Taiwan dollars (RM88.32 billion), according to official data.