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KMT cabinet okays NT$1.83 trillion in funds for next year

Twelve 'Love Taiwan' infrastructure projects and a water conservancy initiative to benefit

 Taiwan Premier Liu Chao-shiuan answers to press during a news event, Wednesday, July 2, 2008, in Taipei, Taiwan. Liu said the upcoming weekend charte...

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Taiwan Premier Liu Chao-shiuan answers to press during a news event, Wednesday, July 2, 2008, in Taipei, Taiwan. Liu said the upcoming weekend charte...

The Kuomintang Cabinet yesterday approved a NT$1.83 trillion draft budget for the central government for 2009, including NT$170 billion in funds for the so-called 12 "Love Taiwan" infrastructure projects, and a special draft budget of NT$11.03 billion for a three-year water conservancy project for Shihmen Reservoir and its catchment system.
Premier Liu Chao-shiuan (劉兆玄) said the draft budget, which will be sent to the KMT-controlled Legislative Yuan by the end of August for approval in its next session, will stress education, science and technology, culture, social welfare, economic development and subsidies for local governments.
The draft drawn up by the Directorate-General for Budget, Accounting and Statistics anticipates NT$1.71 trillion in revenues, up 5.2 percent from this year, while NT$1.83 trillion in expenditures are proposed for an increase of 6.9 percent for a deficit of NT$124.8 billion.
DGBAS Minister Shih Su-mei told reporters after the Cabinet meeting that the budget would both maintain "fiscal stability" and promote economic development, but declined to reveal the assumed rate of economic growth upon which the budget was based pending the release of the DGBAS's third quarter national income estimate this afternoon.
Asked about the possibility of wage increases for military, teachers and civil service employees, the DGBAS chief said that "Premier Liu believes we should wait until the economy improves before talking about wage increases."
Shih stated that education, science and culture will be the largest allotment category with NT$343 billion or 18.7 percent of total expenditures, followed by social welfare with NT$327.5 billion or 17.9 percent, national defense with NT$315.2 billion or 17.2 percent, economic development with NT$265.2 billion or 14.5 percent.
Shih related that economic development would receive the biggest increase in funds with a 23.8 percent hike of NT$50.9 billion in additional funds that will be mainly devoted to transportation infrastructure projects such as mass rapid transit systems, railways, broad-band communication lines and other projects.
The economic development section also includes NT$170.3 billion in allotments for 12 "Love Taiwan" infrastructure projects, including NT$65.3 billion for mass transit systems, NT$37.9 billion for flood control projects, NT$24.2 billion for "intelligent Taiwan" projects and NT$13.0 billion for drainage systems.


Updated : 2020-12-05 14:25 GMT+08:00