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Proactively Establishing Multiple Channels for the Cultivation of Financial Resource to Support Economic Development
  In recent years, the steady growth of the domestic economy has led to an increase in tax revenue, which has been able to support the budget expansion. By strictly obeying fiscal discipline, the 2019 Central Government General Budget was drawn up by moderately expanding the annual expenditure for strengthening domestic demand and ensuring economic growth, details are as follows:

A. The growth rate of annual revenue is greater than the rate of annual expenditure: The annual revenue is NT$1,992.4 billion, an increase of NT$73 billion, or 3.8% compared to 2018; the annual expenditure is NT$1,998 billion, an increase of NT$31.1 billion, or 1.6% compared to 2018.

B. Reducing the budget deficit: The deficit is projected to be NT$5.6 billion, a decrease of NT$41.8 billion, compared to 2018, which was the smallest since 2000.

C. Controling overall  budget deficit: The total deficit of the General Budget, NT$5.6 billion, and the special budget deficit of NT$104.7 billion, are projected to be NT$110.3 billion, controlled within NT$200 billion. The estimated deficit of GDP ratio is 0.6%.

D. Obeying the Public Debt Act strictly to control debts:
a. The government will borrow NT$89.1 billion for the General Budget, combined with the special budget NT$104.7 billion for financing, totaling NT$193.8 billion. The amount borrowed will account for 9.2% of the overall expenditure.
b. It is projected that the amount of our central government outstanding debt will be NT$5,500.9 billion, and the ratio of the Central Government outstanding debt to the average of nominal GDP for the previous three years will be 30.6%. Compared to the statutory debt limit of 40.6%, there remains 10%, or about a NT$1.7 trillion borrowing amount.

Issued:Treasury Affairs Management Division Release date:2019-12-26 Last updated:2019-12-26 Click times:493