An economic stimulus program introduced late last year has used up less than half of its allocated funds and should be extended beyond its Feb. 29 deadline, the National Development Council said yesterday.
Council Minister Lin Chu-chia (林祖嘉) said that since the launch of the short-term NT$5.088 billion (US$150.5 million) stimulus package on Nov. 7 last year, only 45.1 percent has been spent.
Lin proposed extending the program to June, given the dull outlook for the nation’s economy in the first half of the year, he said.
The program includes subsidies for the purchase of energy-efficient home appliances, domestic travel and people replacing their 2G handsets with 4G smartphones.
Lin said one of factor affecting the economic outlook was uncertainty over cross-strait issues.
He called for speedy processing of legislation to set up a mechanism to oversee agreements between Taiwan and China, passage of a service trade pact and completion of a trade-in-goods agreement between the two sides.
The new government, which is to take office on May 20, should implement economic liberalization and upgrade industrial infrastructure, he said.
Given the nation’s heavy reliance on foreign trade, the new administration should continue efforts to join regional blocs, such as the US-led Trans-Pacific Partnership and the Regional Comprehensive Economic Partnership, and to engage in free-trade talks with individual countries.
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