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Government Fiscal Condition Remains Moderate and Resilient

We have been consistently promoting relevant measures to reduce our deficit as well as control the scale of our debt. The total deficit of the Central Government General Budget and Special Budgets as a percentage of the GDP went from 3.4% in 2009 to 0.1% in 2017. In both 2018 and 2019, there were surpluses between the annual revenues and expenditures, which accounted for 0.1% of the GDP in both years. However, in 2020 and 2021, due to the worldwide pandemic outbreak, many countries, including us, have adopted various relief and stimulus measures and expansionary fiscal policies. Whereas many countries have incurred significant fiscal deficits, the deficit of our Central Government General Budget and Special Budgets as a percentage of the GDP was 1.4% in 2020, and is projected to be 1.8% in 2021, showing that our fiscal condition remains moderate and resilient.

 

 
Annual Revenue, Expenditure, and Surplus or Deficit of the Central Government  Unit: billion; %

 

 
Year Annual
Revenue
Annual Expenditure Surplus (+) or Deficit (-) Ratio of Surplus (+) or Deficit (-) to GDP (%)
NT$ US$ NT$ US$ NT$ US$
2009 15,538 53.58 19,930 68.72 -4,392 -15.14 -3.4
2010 14,977 51.64 19,034 65.63 -4,057 -13.99 -2.9
2011 16,715 57.64 19,071 65.76 -2,356 -8.12 -1.7
2012 16,684 57.53 18,970 65.41 -2,287 -7.88 -1.6
2013 17,309 59.68 18,609 64.17 -1,301 -4.49 -0.9
2014 17,264 59.53 18,569 64.03 -1,305 -4.5 -0.8
2015 18,857 65.02 19,044 65.67 -187 -0.64 -0.1
2016 19,012 65.56 19,516 67.3 -504 -1.74 -0.3
2017 19,444 67.05 19,580 67.52 -136 -0.47 -0.1
2018 20,254 69.84 20,089 69.27 165 0.57  0.1
2019 20,848 71.89 20,688 71.34 160 0.55  0.1
2020 21,695 74.81 24,476 84.4 -2,781 -9.59 -1.4
2021 20,534 70.81 24,174 83.36 -3,640 -12.55 -1.8
 
Notes: Figures of the table combines the General Budget and the Special Budget.
1.In General Budget section:
    FY2009-2019: Central Government Final Audit Accounts.
    FY2020: Final Accounts of the Central Government, edited by Executive Yuan;
    FY2021: Central Government General Budget    
2.In Special Budget section:
 (1) The Comprehensive River Basin Management Program:
    FY2014-2019: Central Government Final Audit Accounts.
 (2) The Forward-Looking Infrastructure Development Program:
    FY2017-2018 : Central Government Final Audit Accounts.
    FY2019-2020 : Central Government Special Budget.
 (3) New Fighters Acquisition:
    FY2020: Central Government Special Budget
 (4) Prevention, Relief and Revitalization Measures for Severe Pneumonia with Novel Pathogens:
    FY2020-2021: Central Government Special Budget.
3. Source of GDP: Announced by the Directorate-General of Budget, Accounting and Statistics, Executive Yuan (DGBAS) in February 2021.
4. Certain figures may not add up to the total due to rounding; exchange rate US$1=NT$29.
Issued:Treasury Affairs Management Division Release date:2021-05-20 Last updated:2021-05-20 Click times:243