TCG’s Outstanding Debt Reduced NT13.46 Billion in 2016, Show Highly Debt Management Performance
Department of Finance(DoF) of Taipei City Government(TCG) states that, following paying off NT$16.6 billion by implementing schedule budget of NT$6.6 billion debt payment and NT$10 billion revenue surplus from land value increment tax, deed tax etc. in 2015, which decreased Taipei City’s outstanding debt massively from NT$146.8 billion while Mayor Ko took office in 2014 to NT$130.2 billion. TCG moved on paying off NT$13.46 billion debts by NT$6.6 billion scheduled budget and NT$6.86 billion revenue surplus from estate and gift tax and dividends of Fubon Financial in 2016, Taipei City’s outstanding debt further reduced to NT$116.8 billion, meanwhile the debt per capita was reduced from NT$54,000 to NT$43,000, showing TCG’s highly debt management performance.DoF also states, dut to expenditure saving and revenues surplus accumulated to surplus of fiscal year, the closing account of TCG at the end of 2015 is about NT$7.8 billion. TCG is capable to allocate NT$8.6 billion debt payment, to speed up debt repayment.The DoF affirms that TCG will keep establishing and executing financial strategies for broadening sources of revenue and reducing expenditure to consolidate government’s debt structure.