Taiwan stimulus to lift spending on construction projects

TAIPEI - The Taiwanese Government will increase its spending on public construction projects by 10% in 2014 to help stimulate economic growth, according to a budget plan unveiled on Monday. In 2014, Government expenditure will reach NT$1.9407 trillion, up NT$33.1 billion, or 1.7%, from this year. Revenue, meanwhile, is projected to decrease marginally by NT$2.5 billion, or 0.1%, to NT$1.7308 trillion. The NT$209.9 billion shortfall, along with NT$64 billion for principal repayment on debt, will be covered by new borrowing and the issuance of Government bonds (ATI).