Finance minister aims to prioritize public debt repayment

TAIPEI (TVBS News) — Finance Minister Chuang Tsui-yun announced on Wednesday (Nov. 22) that the government plans to prioritize repaying public debt, by using the tax revenue exceeding budget projections.

The total budget for debt repayment in 2023, amounting to NT＄111 billion, had been fully executed by June, with an additional NT＄15 billion paid in Nov., Chuang added, emphasizing that the nation's resources should be allocated for optimal use should the year-end financial outcome reveal a surplus.

Responding to media queries, Chuang indicated that the surplus in tax revenue, per regulations of the Public Debt Act, would be apportioned first to debt repayment according to the year's income performance.

On Nov. 9, the Ministry of Finance disclosed that tax revenue for the first ten months reached NT＄3.0223 trillion, continuing to set a record high for the same period from previous years, with an increase of 6.9%.

With full-year tax revenue expected to surpass budget estimates by NT＄300 billion to NT＄370 billion, the opposition party has called for a redistribution of the tax benefits back to the citizens.