Taiwan announces budget surplus for 7th straight year

TAIPEI (TVBS News) — Executive Yuan Spokesperson Lin Tze-luen announced on Thursday (Jan. 25) that there was a budget surplus for the 2023 fiscal year.

Lin thanked the civil society and the government for their combined efforts in achieving an impressive economic performance.

The surplus will be used judiciously to maintain fiscal discipline, with the primary objectives being debt reduction and bolstering investment in infrastructure, Lin said.

Taiwan's economy has seen steady growth in recent years, with a budget surplus for seven consecutive years.

In 2022, the budget surplus reached a staggering NT$500 billion. Due to higher than projected tax revenue from the central government's budget, the government has proposed a special budget where NT$380 billion will be used to strengthen economic and social resilience, allowing citizens to enjoy the fruits of economic success.

The proposed special budget includes provisions to distribute a cash payment of NT$6,000 per citizen, supplement the labor and health insurance programs, and support Taiwan Power Company.

It also includes support programs for residential loan holders from the middle class and below.

Lin added that the government will consider public opinion in discussions on the overall surplus situation, vowing to promote national affairs and facilitate Taiwan's sustainable development.

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