ROC government spending on major infrastructure projects will hit NT$600 billion (US$20.41 billion) in 2011, the highest figure on record, according to the Council for Economic Planning and Development Jan. 21.
"This level of spending will promote sustainable economic activity by boosting domestic demand, creating jobs and strengthening Taiwan’s global competitiveness,” the CEPD said.
According to the council, the funds will finance projects costing over NT$1 billion. They are part of an NT$191-billion special budget greeenlighted in July 2010 to spur Taiwan’s economic rebound following the Great Recession.
Over 26 percent of the budget will be spent for transportation renewal, covering improvements on roads, bridges, railways, airports and tourism-related facilities. This is followed by energy resource development at 22 percent, the CEPD said.
Other outlays include agriculture production, industrial facilities, museum and sports center construction, school buildings, urban renewal and water conservation, the council said.
The CEPD expects 90 percent of the budget to be allocated this year, but said around 37 percent is still awaiting legislative approval. This is expected to take place in February at the earliest. (JSM)
Write to Audrey Wang at audrey@mail.gio.gov.tw