Taiwan's Cabinet has approved a projected US$98 billion budget for the 2025 fiscal year, a nearly 10% increase from 2024. The highest spending will go toward social welfare projects, followed by education, science and culture initiatives and economic development. Defense spending accounts for almost 15% of the budget, not including a special allocation for fighter jets and combat readiness improvements.
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00:00Taiwan's cabinet has approved plans to spend a record amount next year.
00:04Most of the over 98 billion U.S. dollar budget will go towards social welfare projects, followed
00:10by education, science and culture.
00:12The third largest category is economic development, which includes roadworks and pedestrian safety
00:18projects.
00:19Waterworks spending is also expected to rise after heavy flooding from Typhoon Kaimi.
00:24Defense spending will account for almost 15 percent of the budget, on top of a special
00:28allocation for fighter jets and improvements to naval and air combat readiness.