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Taiwan allocates NT$150 billion budget as COVID-19 relief fund

The Cabinet on Thursday (April 23), gave details of the allocation of the special NT$150 billion budget to help domestic economy which has been greatly affected by the COVID-19 pandemic, reported CNA.

Pending legislative approval, NT$133.5 billion of the budget will be alloted  for the recovery of local businesses and for providing relief to self-employed workers, said the Directorate General of Budget, Accounting and Statistics (DGBAS).

DGBAS added that the remaining NT$16.5 billion will be used to fund country's health response and recovery efforts amid the COVID-19 pandemic.

Under the NT$133.5 billion allocated for economic stimulus, NT$77.44 billion will be disbursed for manufactures and business struggling due to pandemic, according to DGBAS. On the other hand, the Ministry of Labor will pay out a total of NT$31.02 billion to provide subsidized loans to workers and supplement the living expenses of the self-employed and those who do not have fixed employment.

Earlier on Tuesday, the Legislature passed an amendment to the special act to raise the ceiling of the special budget to NT$210 billion, with the option of doubling that if necessary.

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