Politics

Social welfare tops 2013 ROC budget

Social welfare spending is the largest category in the ROC national budget for 2013. (Photo: Huang Chung-hsin)

• Publication Date：08/24/2012
• Source： Taiwan Today

The ROC Executive Yuan approved the central government’s 2013 budget Aug. 23, with social welfare accounting for the largest share of expenses at 22.6 percent.

The proposed budget will be sent to the Legislative Yuan for review at the end of this month, according to the Directorate-General of Budget, Accounting and Statistics.

Total projected government revenue for 2013 has been calculated at NT$1.73 trillion (US$57.74 billion), an increase of 0.02 percent over the previous year’s level, while spending is forecast to reach NT$1.94 trillion, up 0.3 percent year on year, DGBAS Minister Shih Su-mei said.

The forecasted deficit for 2013 is NT$214.4 billion, up NT$5.4 billion, including NT$77 billion in previous debt obligations. The government will take out NT$284.4 billion in loans next year, as well as use the NT$7 billion budget surplus of the previous fiscal year toward paying off the debt, according to Shih.

Social welfare expenditures are projected to rise by NT$3.6 billion, mainly due to increases in funding for the national pension system and national health insurance, she said.

Education and culture will account for the second largest share of government expenses, at NT$366 billion, or 18.8 percent of the total budget, followed by defense spending at NT$307.3 billion, or 15.8 percent.

Fourth on the list is spending on economic development projects, accounting for 14 percent at NT$272.6 billion.

Shih noted that funds allocated for economic development projects make up NT$4.4 billion of the estimated NT$5.8 billion year-on-year increase in government spending, with allocations toward railway and MRT infrastructure projects and to the agricultural industry development fund accounting for the lion’s share. (SB-THN)