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Bloomberg
The Taiwanese government is planning to deploy NT$380 billion ($12.4 billion) of funds to support the local economy and combat inflation amid global uncertainties, the presidential office said.
Some of the funds, which come from higher-than-expected tax revenue this year, will be used to meet a shortfall in the labor and health insurance system and to provide subsidies
for electricity prices, while about NT$180 billion is likely to be spent on programs to give money back to the people.
Stabilising prices, helping industry adapt to new conditions, sustaining economic momentum and easing the burden on the population are the four goals for the coming year, according to the statement released after a national security meeting.
President Tsai Ing-wen called the meeting to address growing economic challenges, after Taiwan’s export orders in November plummeted by the most since the height of the global financial crisis in 2009, a sign of worsening demand for technology products.
In mid-December, Taiwan’s central bank cut its growth estimate for gross domestic product in 2022 to 2.91% from 3.51%.