2021 BUDGET: Social welfare policies would have the biggest slice of the budget of NT$2.16 trillion, followed by education, culture and science-related expenditures
Date: Aug 14, 2020
By: Sean Lin / Staff reporter
If including payment for the F-16Vs that the nation has committed to purchase from the US, which totals NT$29 billion and would be drawn from a special budget, and non-profit special funds of NT$57.6 billion, the defense budget for next fiscal year would be NT$453.4 billion, or 2.4 percent of this year’s projected GDP, the Directorate-General of Budget, Accounting and Statistics said.
Social welfare policies would have the largest slice of the budget at NT$559.4 billion, or 25.9 percent of the projected expenditure, followed by education, culture and science-related expenses, which total NT$429 billion, or 19.9 percent.
The funding for economic policies would account for the fifth-largest proportion of the budget at NT$253.9 billion, or 11.7 percent. [FULL STORY]