HIDDEN DEBT:The report said that if an estimated NT$17.74 trillion in hidden debt is factored in, the per capita debt burden could reach about NT$75,500

Taipei Times
Date: Jul 09, 2016
By: Lin Liang-shen  /  Staff reporter

As of the end of last year, the central and local governments amassed more than NT$6 trillion (US$184 billion) in national debt, which will take the nation nearly 88 years to pay off, according to a Control Yuan report.

The report was compiled by an ad hoc group that spent a year investigating the government’s finances.

It was approved on Wednesday by the Committee on Financial and Economic Affairs of the Control Yuan, the nation’s highest watchdog organization, demanding that the Executive Yuan tackle the nation’s financial problems head-on and reflect on its errors.

According to the report, as of the end of last year, the central and local governments accumulated a total debt of NT$6.022 trillion, of which NT$5.2769 trillion was amassed by the former.     [FULL  STORY]