Wed, Feb 08, 2012 - Page 12 News List

National debt at NT$216,000 per person

By Amy Su  /  Staff Reporter

Taiwan’s national debt increased to NT$216,000 (US$7,300) per person as of the end of last month, up NT$4,000 per person from the previous month, marking the highest level since the government began publishing the data in December 2010, the Ministry of Finance said yesterday.

National debt, which includes the central government’s long-term and short-term debt, amounted to NT$5.018 trillion as of the end of last month, up from NT$4.916 trillion a year ago, data showed.

Government bonds — outstanding debt with a maturity of more than a year — totaled NT$4.769 trillion last month, up from NT$4.637 trillion the previous month, the ministry said.

Treasury bills — outstanding debt with a maturity of less than a year — stood at NT$249.1 billion, down from NT$279.1 billion the previous month.

“Demand from public construction projects increased long-term debt,” a ministry official said.

It was the third consecutive month that the national debt has increased month-on-month, the ministry said.

Compared with the end of October, the national debt translated into an increase of NT$12,000 per person as of the end of last month, according to the ministry’s data.

The ministry began publishing a monthly Web-based “National Debt Clock” in December 2010 to remind government agencies to keep an eye on their spending.

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