Conetent：

1. To support national construction and government expenditures, we completed the financing for the 2023 Central Government General Budget Proposal as well as the fourth stage of the Forward-looking Infrastructure Development Program Special Budget Proposal (2023-2024), which were passed by the Executive Yuan and then submitted to the Legislative Yuan for approval, as follows:
   (1) The 2023 Central Government General Budget Proposal was promulgated by the President on February 16, 2023. Its annual revenues and expenditures were NT$2,579.1 billion and NT$2,689.1 billion respectively, leading to a NT$110.0 billion deficit. Combined with the debt repayment of NT$111.0 billion, the total financing demand is NT$221.0 billion, which will be funded by the NT$47.4 billion surplus from previous fiscal years and NT$173.6 billion debt borrowing.
   (2) The fourth stage of the Forward-looking Infrastructure Development Program Special Budget (2023-2024) was promulgated by the President on January 19, 2023. Its annual expenditures were NT$209.8 billion, allocating NT$104.3 billion in 2023 and NT$105.5 billion in 2024. All expenditures will be funded with debt borrowing.
2. In order to respond to protect the health of the people and to mitigate the impact of the COVID-19 pandemic on the domestic economy and society, we continue to execute the Relief and Revitalization Measures for Severe Pneumonia with the Novel Pathogens Special Budget (Jan 15, 2020 – Jun 30, 2023). The expenditure of this special budget is NT$839.3 billion, which will be funded by the NT$30.0 billion surplus from previous fiscal years and NT$809.3 billion debt borrowing.
3. To ensure national security and development, we continue to execute the New Fighters Acquisition Special Budget (2020-2026) and the Sea-Air Combat Power Improvement Plan Purchase Special Budget (2022-2026). The annual expenditures of these special budgets in 2023 are separately NT$45.1 billion and NT$63.3 billion, both of which will be funded with debt borrowing.
4. In the post-pandemic era, in order to comprehensively strengthen the nation's economic and social resilience and adaptability, and to ensure that the benefits of economic growth are shared with the entire population, the Executive Yuan passed the Enhancing Post-pandemic Economic and Social Resilience and National Sharing Economy Achievement Special Budget Proposal (FY2023 to FY2025), which was later approved by the Legislative Yuan and then promulgated by the President on March 25, 2023. The expenditure of this special budget is NT$379.9 billion, which will be funded by the NT$180.0 billion surplus from previous fiscal years and NT$199.9 billion in debt borrowing. Considering that the FY2022 central government final audit accounts has a surplus sufficient to support this special budget, there is no need to borrow any further debt.

Performance：

We will strictly abide by the Budget Act, the Public Debt Act, the Fiscal Discipline Act, and other regulations to manage to control 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 30.7% in 2023 (actual debt-to-GDP ratio as of the end of August of the same year was 27.2%), maintaining sufficient fiscal resilience.