Taiwan plans to issue "stimulus coupons" again to boost consumer spending by $T200 billion and support its coronavirus-hit economy, as the island works to counter a small outbreak of the Delta variant.
In its latest move to spur the trade-reliant economy, Taiwan's Cabinet announced a budget of $T160 billion for the coupons, part of a stimulus package worth $T840 billion . Citizens will be given $T5,000 worth of cash-equivalent coupons, which can only be used until the end of June next year and can be spent in most shops.There are some exceptions, including tobacco purchases.The Taiwan government last year spent nearly $T50 billion for similar coupons, a move it said had spurred consumer spending by $T100 billion .
"We created enormous economic benefits this way last year. This year, we expect it to be better than last year," Premier Su Tseng-chang told reporters.Taiwan's economy, a key part of the global technology supply chain, is expected to grow 5.88 per cent this year, the fastest pace in more than a decade, thanks to strong global demand for the island's tech exports during the pandemic.
Early and effective prevention steps had succeeded in shielding Taiwan from the worst of the pandemic and many curbs including limiting personal gatherings had been eased since August after a rare surge in cases earlier this year.Space to play or pause, M to mute, left and right arrows to seek, up and down arrows for volume.