Ministry predicts deficit to drop as tax revenue rises

Taipei Times
Date:  Apr 21, 2015
By: Crystal Hsu  /  Staff reporter

The government has gained some headway in reining in public debt, with the budget shortfall expected to drop this year as a record-high increase in tax revenues outpaces debt growth, the Ministry of Finance said yesterday.

The easing would give the government more room for debt financing to meet unforeseen spending needs if necessary, Minister of Finance Chang Sheng-ford (張盛和) said at a meeting of the legislature’s Finance Committee in Taipei.

The budget deficit is estimated at NT$158 billion (US$5.08 billion) for this year, down significantly from NT$209.1 billion last year, as the introduction of a feedback mechanism has started to pay off, the minister said.     [FULL  STORY]

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