Taiwan to unveil second economic stimulus package

Taipei,  The government is expected to unveil a second economic stimulus package within the week, in an effort to prop up the domestic economy amid the continued spread of the coronavirus disease COVID-19, Executive Yuan spokeswoman Kolas Yotaka said Monday.

Citing Premier Su Tseng-chang (蘇貞昌), who was briefed by government officials at a cross-agency meeting earlier the same day, Kolas said the Executive Yuan is planning a second stimulus package, worth NT$40 billion (US$1.32 billion), to be announced later this week.

That will bring government expenditure earmarked for the purpose to a total of NT$100 billion, targeting mainly the worst-hit businesses such as airlines and hotels, Kolas said.

The funding will be used to provide credit loans to businesses to help them through current difficulties and ensure subsidies are available to their workers.

Monday’s announcement came after the first NT$60 billion special budget unveiled in early March, which was approved by lawmakers March 13 to step up efforts to prevent the spread of COVID-19 in Taiwan.

According to Kolas, Su has instructed the ministries of economic affairs, transportation and communications and finance, as well as the Financial Supervisory Commission and the central bank, to review the relevant details and devise additional measures as soon as possible.

Source: Focus Taiwan News Channel