225 Billion Debt in 2011
Premier Wu Dun-yi has been criticized for failing to improve the nation's finance when he reported that the government's borrowing will be 225-billion NT dollars to fund the general budget next year. In response to the attacks, Premier Wu re-emphasized that the government will do its best to reduce the degree of debt accumulation.
The 2011 annual report of the central government budget is announced by the premier Wu Dun-yih.
In total, after calculating the income and debt and the accumulated debt from the past, the government has come up with a total debt of NT$225b.
During the questioning, the DPP legislators are animated about this amount and demand an explanation from Wu and his team.
Taking this chance, the DPP legislators are peppering the central government with tough questions and asking for accountability to this issue.
At the same time, the Control Yuan has also demanded for an explanation from the Executive Yuan and Ministry of Finance on the deteriorating fiscal situation of the government.
Premier Wu reassured that since there is no foreign debt, Taiwan will not be bankrupted, but will definitely rectify the Executive Yuan and the Ministry of Finance for any wrongdoings or lack of accountability.
At the same time, due to the typhoon damages over the past years, the budget for rehabilitation of the affected areas have been the highest ever in history, as much as NT$18b.
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