The China Post
Date: Jan. 10, 201940
By: Ku Chuan and Evelyn Kao
TAIPEI (CNA) — The Cabinet on Jan. 10 approved a program formulated by the National Development Council (NDC) to increase domestic demand with the aim of boosting Taiwan’s economic growth this year, according to Cabinet spokeswoman Kolas Yotaka.
At a Cabinet meeting earlier in the day, Premier Lai Ching-te (賴清德) said Taiwan’s gross domestic product (GDP) had been growing over the past two years and the government is expected to have a fiscal surplus of NT$40 billion (US$1.3 billion) this year, which will be used appropriately, according to Kolas.
Domestic demand will be a key factor in ensuring stable economic growth in Taiwan this year in the face of a volatile global economy and the trade frictions between the United States and China, Lai told the Cabinet, Kolas said.
He said consumption and investment are the two key elements in boosting domestic demand, therefore, the government plans to increase people’s disposable income by optimizing the taxation systems, according to Kolas. [FULL STORY]