In response to accusations made yesterday by Independent presidential candidate James Soong (
At a press conference yesterday, Soong accused the government of piling up a debt of NT$3 trillion, and running an annual deficit equal to 4.32 percent of the GDP.
Chiu added that according to international precedent, the government's deficit is measured on an annual basis, not according to an accumulated calculation.
"I don't understand where they get the figure of more than 4 percent," Chiu said.
Chiu said as of June 1999, the government's total debt is NT$2.2 trillion, of which around NT$1.3 trillion was the central government's debt, while some NT$800 billion is the Taiwan provincial government's debt.
The central government shouldered the burden of the provincial government's debt after the implementation of the downsizing of the provincial government on Dec. 25, 1998.
CELEBRATION: The PRC turned 75 on Oct. 1, but the Republic of China is older. The PRC could never be the homeland of the people of the ROC, Lai said The People’s Republic of China (PRC) could not be the “motherland” of the people of the Republic of China (ROC), President William Lai (賴清德) said yesterday. Lai made the remarks in a speech at a Double Ten National Day gala in Taipei, which is part of National Day celebrations that are to culminate in a fireworks display in Yunlin County on Thursday night next week. Lai wished the country a happy birthday and called on attendees to enjoy the performances and activities while keeping in mind that the ROC is a sovereign and independent nation. He appealed for everyone to always love their
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