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Actively raising funds to support government expenditures.

Conetent:
1. To support government expenditures, the NTA completed the financing for the FY2022 Central Government General Budget, which was promulgated by the President on February 18, 2022, with annual revenues and expenditures of NT$2,267 billion and NT$2,251.1 billion, respectively, rendering an NT$15.9 billion surplus. The debt repayment of NT$96 billion was offset by this surplus, leaving a financing gap of NT$80.1 billion, which is to be funded by the surplus from the previous fiscal years, or NT$36.1 billion, and debt borrowing of NT$44 billion.
2. The amount of the Relief and Revitalization Measures for Severe Pneumonia with Novel Pathogens Special Budget and its three supplementary budgets were NT$679.4 billion. Since the domestic coronavirus outbreak has been brought under control recently, the government plans to stimulate domestic consumption, boost the economy, and assist domestic demand-driven industries to recover from the pandemic by arranging the fourth supplementary special budget with the amount of NT$159.9 billion. The total amount of the special budget and its four supplementary budgets are to be NT$839.3 billion, which will be funded by the NT$30 billion surplus from previous fiscal years and NT$809.3 billion debt borrowing.
3. In order to respond to enemy threats, the NTA completed the financing for the Sea-Air Combat Power Improvement Plan Purchase Special Budget. The expenditure of this special budget is NT$237 billion, which will be funded by debt borrowing. Through this momentous military investment, we look forward to showing our determination in self-defense.
4. To accelerate the construction of infrastructure, the NTA continues to execute the third stage of the Forward-looking Infrastructure Development Program Special Budget (FY2021-2022). The FY2022 budget of $105.7 billion is to be funded with debt borrowing.
5. To ensure national security and development, the NTA continues to execute the New Fighters Acquisition Special Budget (FY2020-2026). The FY2022 budget of NT$40.1 billion is to be funded by the NT$5 billion surplus from previous fiscal years and NT$35.1 billion debt borrowing.

Performance:
1. The budget requirements on account of national development demands increased in FY 2022. For smoothly supporting governmental administration financially, consultations with revenue-collecting agencies to enhance the collections have been proactively held, resulting in an increase of a revenue growth rate of 10.4%, which is higher than that of the expenditure of 5.4%. Both the tax-revenue growth rate of 13.4% and its weight of 84% to the total revenue show a 20-year high.
2. Despite the fact that in recent years several special budgets aiming to implement construction projects and to cope with hostile threats were mostly based on debt-borrowing, we will notwithstanding strictly abide by the Budget Act, the Public Debt Act, the Fiscal Discipline Act, and other regulations to manage to control the government debt. The ratio of the central government’s outstanding debt to the average nominal GDP for the previous three years to the budget is projected to be 31.8% in 2022, showing sufficient fiscal resilience.
 

Issued:National Treasury Administration Release date:2019-05-14 Last updated:2022-03-17 Click times:462