Fri, Aug 24, 2012 - Page 1 News List

Cabinet approves economic-growth oriented budget

By Shih Hsiu-chuan  /  Staff reporter

The government’s estimated fiscal shortfall for next year was NT$214.4 billion.

Shih said the government would take out loans of NT$284.4 billion next year and use the NT$7 billion surplus of the previous fiscal year to meet the shortfall to repay debts of NT$77 billion.

The DGBAS said the government’s outstanding debts would rise to an all-time high of NT$5.269 trillion, or 37.1 percent of the average GNP of the past three years, though still lower than the 40 percent debt limit.

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