Taiwan’s GDP per capita could exceed US$40,000 this year and the monthly minimum wage could top NT$30,000 if the economy continues its steady growth trajectory, Premier Cho Jung-tai (卓榮泰) said yesterday.
Taiwan reported economic growth of 8.63 percent last year, with GDP per capita rising to US$39,477 amid favorable economic conditions, Cho said, adding that the nation’s stock market reached 33,000 points.
Taiwan Semiconductor Manufacturing Co (TSMC) continues to grow domestically and is expanding globally, while global tech leaders such as Nvidia Corp and Micron Technology Inc have increased investment in Taiwan, he said.
Photo: CNA
Echoing President William Lai’s (賴清德) call for the Legislative Yuan to pass the government’s proposed NT$1.25 trillion (US$39.7 billion) special defense budget, Cho said he sees signs of hope emerging in the legislature.
He called on opposition parties not to obstruct the defense bill, urging them to expedite its review and fulfill their responsibilities for the benefit of all citizens.
Regarding controversies involving military pay raises, the Executive Yuan would seek a constitutional judgement, Cho said.
From 2016 to last year, the government implemented 27 rounds of pay increases and allowance adjustments for servicemembers and civil servants, while it has upgraded military equipment and renovated military housing, he said.
Last year’s budget for military allowances reached NT$13.8 billion, he added.
As for arms procurements and the central government budget, the ruling and opposition parties should present a unified front to the world, he said.
Cho said he hoped that after the Lunar New Year recess, the legislature would review the special defense budget and the general budget to improve security.
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