First OECD report on Taiwan’s budgeting praises fiscal prudence
First OECD report on Taiwan’s budgeting praises fiscal prudence
2024-09-09
Earlier this year, the Organization for Economic Cooperation and Development published its first-ever report on Taiwan’s government budgeting system. An OECD delegation had visited Taiwan to investigate the matter, drawn by Taiwan’s strong economic performance during the pandemic. The report praises Taiwan’s fiscal prudence and underscores the importance of semiconductors for the country’s finances. Let’s hear from an expert.
Darson Chiu
CIECA
The pandemic did indeed inflict substantial damage to several nations’ economies. Amid the turmoil, we were one of few developed countries that showcased stronger economic growth in 2020 than in the year before, resulting in increased tax revenue. The public debt to GDP ratio didn’t go up. In fact, it shrunk, underscoring the strength of our fiscal policies.
The OECD report says Taiwan has clear fiscal objectives and low levels of debt. As of the latest data, Taiwan’s general government gross debt as a percentage of the GDP in 2024 stood at just 22.5%, far lower than countries such as Japan, the US, Germany or South Korea. The report also highlights that Taiwan’s rapidly aging population poses the greatest fiscal challenge for the future, affecting issues such as old-age pensions and elderly care.
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OECD首度調查台灣預算 讚賞強大財政紀律.債務低
2024-09-09
OECD經濟合作暨發展組織首次調查台灣的預算程序，近期報告出爐，讚賞台灣有強大的財政紀律，債務占GDP比重也較低。雖然台灣不是OECD會員國，但因為疫情期間，受惠於半導體、經濟和稅收有好表現，才引起OECD的興趣來台考察。
[[亞太商工總會執行長 邱達生]]
“疫情其實對很多國家的財政造成很大的衝擊，我們是少數的已開發國家中，2020年經濟成長率比前一年更好，那也就是導致稅收也是增加的。公共債務占GDP的一個比重，不但沒有增加，而且反而是減少，凸顯了我們在財政方面的國際優勢。”
OECD報告指出，台灣優點是有明確財政目標，債務也較低。以2024年數據來看，政府負債占GDP22.5%，優於其他已開發國家像是日本、美國、德國、南韓。不過，OECD也指出，人口老化，未來每人負擔加重，退休金和老年照護都是台灣的財政隱憂。
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