Tue, Jul 09, 2013 - Page 13 News List

National debt decreases for the second consecutive month: Ministry of Finance

By Amy Su  /  Staff reporter

The national debt was NT$228,000 (US$7,514) per person at the end of last month, down NT$2,000 per person from a month earlier, posting a decrease for the second consecutive month, according to statistics issued by the Ministry of Finance yesterday.

The National Treasury Agency attributed the decrease to the influx of revenue from consolidated income tax, which allowed the government to repay some of its long-term debt earlier.

National debt, which includes the central government’s long-term and short-term debt, amounted to NT$5.3172 trillion as of the end of last month, from NT$5.3594 trillion posted a month earlier, ministry data showed.

Government bonds — the central government’s outstanding debt with a maturity of more than a year — totaled NT$5.1224 trillion, down from NT$5.1294 trillion the previous month.

Treasury bills — the central government’s outstanding debt with a maturity of less than a year — stood at NT$194.8 billion, down from NT$230 billion a month ago.

Before declining for two consecutive months in May and last month, the national debt per capita reached NT$234,000 at the end of March, and remained at the same level at the end of April, its highest level since the ministry launched its Web-based “National Debt Clock” in December 2010 to remind government agencies to monitor their spending.

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