TAIPEI (Taiwan News) — Premier Cho Jung-tai (卓榮泰) on Thursday said Taiwan’s strong economic performance could push per capita GDP above NT$1.25 million (US$40,000) this year.
Cho said the country is in its strongest development position yet, per CNA. Taiwan posted 8.63% economic growth last year, the stock market surpassed 33,000 points, and per capita GDP is estimated at NT$1.23 million.
He added that TSMC has expanded domestic operations while advancing its global footprint. Major international firms such as Nvidia and Micron have also increased investment in Taiwan.
If momentum continues, Cho said per capita GDP could top NT$1.25 million this year, while the monthly minimum wage may exceed NT$30,000. He described the goals as achievements that were once difficult to imagine.
President Lai Ching-te (賴清德) on Wednesday urged ruling and opposition parties to begin substantive deliberations when the legislature reconvenes and to pass the eight-year, NT$1.25 trillion special defense budget. Cho said he sees signs of progress in the legislature and hopes opposition lawmakers will stop stalling the bill and instead review it responsibly.
Cho pointed out that between 2016 and 2025, the government approved 27 rounds of pay raises and allowances for military personnel, civil servants, and public school teachers. It has also upgraded military equipment and rebuilt aging dependents’ housing, with the armed forces’ allowances budget reaching NT$13.8 billion in 2025.
Addressing controversy over military, police, and firefighter funding, Cho said the Legislative Yuan must not infringe on the Cabinet’s budgetary authority. The Cabinet has therefore petitioned for a constitutional interpretation of the relevant bills and will make retroactive allocations if the Constitutional Court declares them constitutional.
He said the ruling and opposition parties should present a united front on negotiations, arms procurement, and the central government budget. He expressed hope that after the Lunar New Year, as spring arrives, the legislature will conduct rational reviews of the budget and the outcomes of future negotiations.
