Taiwan to launch giant economic stimulus project

Taipei, Nov.19 (CNA) Taiwan will launch a new giant economic stimulus project, worth nearly NT$500 billion (about US$15 billion), to reinvigorate the slumping domestic economy, government spokeswoman Vanessa Yea-ping Shih said Wednesday.

According to Shih, the new pump-priming project is expected to help drive up the country's gross domestic product (GDP) by 1.64 percentage points for 2009.

The Executive Yuan will hold an extraordinary meeting next Monday to pass the new stimulus project in the form of a special budget billwhich will then be referred to the Legislative Yuan for screening and approval, Shih said.

On Thursday, she went on, the Cabinet will pass the much-anticipated NT$82.9 billion shopping voucher program at its regular weekly meeting as the first step to kick-start the huge stimulus project.

Article Source: http://www.taiwannews.com.tw/etn/news_content.php?id=792918&lang=eng_news&cate_img=&cate_rss=news_Business_TAIWAN


Notes:

Major foreign securities firms operating in Taiwan show mixed views concerning the effects of the upcoming issuance of NT$3,600 in shopping coupons to everyone on the island’s economic performance.

Article Source: http://www.chinapost.com.tw/business/asia/b-taiwan/2008/11/20/184045/Mixed-views.htm