TRILLION PROPOSED: The premier said the goal was to keep ‘businesses solvent, the unemployment rate down, transportation and logistics going, and cash flowing’
Taipei Times
Date: Apr 03, 2020
By: Sean Lin / Staff reporter
Premier Su Tseng-chang, center, speaks at a news conference at the Executive Yuan in Taipei yesterday as Executive Yuan Secretary-General Lee Meng-yen, right, Minister of Economic Affairs Shen Jong-chin, second left, and Vice Premier Chen Chi-mai, left, look on.
Photo: Peter Lo, Taipei Times
The increased budget comprises a special budget of NT$210 billion, up from the NT$60 billion already passed by the Legislative Yuan; NT$140 billion — up from NT$40 billion — to be appropriated from the general budget; and NT$700 billion in loans to industries affected by the COVID-19 pandemic, Directorate-General of Budget, Accounting and Statistics Minister Chu Tzer-ming (朱澤民) told a news conference at the Executive Yuan in Taipei.
The NT$150 billion increase in the special budget is to be paid for by increasing national debt by NT$100 billion in the current fiscal year and NT$50 billion in the next, Chu said.
The NT$700 billion in loans, double what was originally planned, is to be provided by the central bank and state-owned banks, as well as Chunghwa Post Co (中華郵政), he said. [FULL STORY]
