Department of Finance

Mayor Chiang implemented fiscal discipline, and Taipei City Government (TCG) has reduced debt by NT$4.8 billion in the first half of 2023. Mayor Chiang Wan-an has implemented not only various policies but also fiscal discipline to repay debts after taking office. Following the repayment of the 2 billion for maturity bond in January 2023, the TCG continually implemented debt repayment by reducing the amount of NT$2.8 billion debt in June 2023. The TCG has totally reduced debt of NT$4.8 billion during the first half of 2023. The amount of outstanding debt was reduced from 89.8 billion to 85 billion after Mayor Chiang took office at the end of 2022. The per capita debt also decreased from NT$36,000 to NT$34,000.

The TCG continues to control outstanding debt under the principles of fiscal discipline, timely uses budgetary resources for debt repayment, and based on the Public Debt Act, examines the annual revenue collection for evaluating the amount of additional repayment of the principal. It is expected that during the period of high market interest rates, the TCG reduce the burden of interest payments via effectively controlling debt interest expenditure.