The Executive Yuan yesterday approved a fiscal 2022 budget of NT$2.2491 trillion (US$80.506 billion) put forth by the central government, which focuses heavily on social welfare funding.
The bill represents an annual 9 percent increase over last year’s budget, with a deficit of NT$23 billion, as central government spending is forecast to rise by about 5.9 percent next year, the Cabinet said.
Of the proposed NT$2.2621 trillion in spending, the largest portion is slated for social welfare at NT$601.8 billion, 26.6 percent of the budget.
Education, cultural and science projects are to consume 20.1 percent, national defense 15.7 percent and economic development programs 11.5 percent.
Following the Cabinet’s approval of the budget plan as put forth by the Directorate-General of Budget, Accounting and Statistics (DGBAS), the bill is expected to be submitted to the legislature by the end of this month for review and passage.
The DGBAS proposal estimates a NT$23 billion budget deficit, and NT$96 billion in debt payments are to be financed by a NT$50 billion surplus accumulated over previous fiscal years, along with borrowing of NT$69 billion.
As a result of the borrowing and a special budget of NT$185.6 billion for emergency and other purposes, the central government’s debt for fiscal 2022 is expected to stand at NT$254.6 billion, the DGBAS said.
The national accumulated outstanding debt is projected to be NT$6.4197 trillion for fiscal 2022, down 0.9 percent, accounting for 32 percent of the country’s average nominal GDP over the past three years, the DGBAS said.
Premier Su Tseng-chang (蘇貞昌) said that while no allocation was made in the budget proposals to increase the salaries of teachers, civil servants and military personnel, he has directed government agencies to review the matter so that the central government can can consider a pay raise for these employees.
DGBAS Minister Chu Tzer-ming (朱澤民) said that a pay hike is allowed consideration on the premier’s directive, despite it not being included in the report by the Directorate-General of Personnel Administration’s evaluation committee.
In a related matter, a legislator speaking on the condition of anonymity said that the defense budget — which contains a special budget item to step up the Chungshan Institute of Science and Technology’s capabilities in missile manufacturing — is likely to be reviewed in the upcoming legislative session.
However, such reviews are only able to be conducted after a special act, drafted by the Ministry of National Defense, is approved by the Executive Yuan, then ratified by a third reading at the Legislative Yuan, the legislator said.
Only when these steps have been followed can the Legislative Yuan begin drafting a budget, the legislator said, adding that the budget would likely be spread across four or five years.
Meanwhile, Democratic Progressive Party caucus secretary-general Lo Chi-cheng (羅致政) yesterday said that President Tsai Ing-wen’s (蔡英文) promise to maintain national defense spending at 2 to 3 percent of the GDP has been met.
The national defense budget growth rate for 2018 was 2.64 percent, increasing to 3.9 percent in 2019, 3.15 percent last year, and 3 percent this year, he said, adding that the national defense budget for fiscal 2021 is 2.36 percent of the GDP.
Lo expressed hope that the national defense budget and the special budget would receive unanimous support from legislators across party lines.
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