The government is expected to unveil a second economic stimulus package
within the week, in an effort to prop up the domestic economy amid the
continued spread of the coronavirus disease COVID-19, Executive Yuan
spokeswoman Kolas Yotaka said Monday.
Citing Premier Su Tseng-chang (蘇貞昌), who was briefed by government officials at a
cross-agency meeting earlier the same day, Kolas said the Executive Yuan is
planning a second stimulus package, worth NT$40 billion (US$1.32 billion), to
be announced later this week.
That will bring government expenditure
earmarked for the purpose to a total of NT$100 billion, targeting mainly the
worst-hit businesses such as airlines and hotels, Kolas said.
The funding will be used to provide credit
loans to businesses to help them through current difficulties and ensure
subsidies are available to their workers.
Monday’s announcement came after the first
NT$60 billion special budget unveiled in early March, which was approved by
lawmakers March 13 to step up efforts to prevent the spread of COVID-19 in
According to Kolas, Su has instructed the
ministries of economic affairs, transportation and communications and finance,
as well as the Financial Supervisory Commission and the central bank, to review
the relevant details and devise additional measures as soon as possible.