Taiwan's defence budget will hit new record next year, president says

TAIPEI (Reuters) -Taiwan's total defence budget is set to reach a new high of T$647 billion ($19.74 billion) next year as the island seeks to boost defensive self-reliance and cooperation with democratic partners, President Lai Ching-te said on Tuesday.

China, which views democratically governed Taiwan as its own territory, has ramped up military and political pressure over the past few years to assert those claims, which Taipei strongly rejects.

"We are determined to boost self-defence and deepen cooperation with democratic partners in a bid to ensure peace and prosperity," Lai was quoted as saying in a statement by the Presidential Office.

Lai has faced sustained personal attacks from China since assuming office in May, with Beijing calling him a "separatist". China staged war games around Taiwan shortly after Lai's inauguration.

The statement did not provide a comparison to the defence budget for this year. Taiwan's government had proposed overall defence spending of T$606.8 billion for 2024.

($1 = 32.7790 Taiwan dollars)

(Reporting by Yimou Lee;Editing by Andrew Heavens and Helen Popper)