TAIPEI, Taiwan: After China staged large-scale military exercises around the island, Taiwan has proposed allocating $19 billion on defense next year, including funds to purchase new fighter jets.

After U.S. House Speaker Nancy Pelosi visited Taiwan this month, which infuriated Beijing, which saw Pelosi as a U.S. attempt to interfere in its internal affairs, China carried out its largest-ever war games around the democratically governed island that it views as its territory.

President Tsai Ing-wen's Cabinet set a proposed overall spending budget with a 13.9 percent year-on-year increase, to a record $19.41 billion.

The planned defense spending, which must be approved by parliament, marks Taiwan's sixth consecutive year of growth in defense spending since 2017.

The double-digit increase in 2022 marks a sharp increase, compared with the island's defense spending growth in recent years, where yearly growth has been below 4 percent since 2017.

The increase would mainly go towards operational costs, said statistics department minister Chu Tzer-ming.

"We always give safety and national security the top priority, that is why the budget for operational costs rises greatly," Chu said, as quoted by Reuters.

In a statement, Taiwan's defense ministry noted that the budget was equivalent to 2.4 percent of Taiwan's projected GDP in 2023, and will fully consider the "enemy threat."

"In the face of the Chinese communists' continuous expansion of targeted military activities in recent years, and the normalized use of warships and military aircraft to raid and disturb Taiwan's surrounding seas and airspace, the military adheres to the principle of preparing for war, without seeking war, and defending national security with strength," it said.

The proposed defense spending represents a 12.9 percent year-on-year increase, excluding military equipment and funds, compared with a 20.8 percent increase in next year's overall government budget.

It will also account for 14.6 percent of the government's total spending for next year.

In 2021, Taiwan announced an extra defense budget of $8.69 billion by 2026, mostly for the purchase of naval weapons, including missiles and warships.

Tsai has prioritized modernizing the island's armed forces, which is dwarfed by China's military.

During a meeting with visiting Japanese academics at her office this week, Tsai stressed that the determination to protect their sovereignty, freedom and democracy would not change "due to pressure or threats."

"At the same time, as a responsible member of the international community, Taiwan will not provoke incidents nor escalate conflicts," Tsai added.