International News: Taiwan’s ‘New Year blessing’ to citizens is cash payout

By Zoila Palma Gonzalez: On Wednesday, officials in Taiwan confirmed that the country plans to give cash payouts of almost $200 to its citizens, Reuters report.

Premier Su Tseng-Chang said that the island’s economic growth will be shared by everyone.

The island’s economy grew 6.45% in 2021, the fastest rate since it expanded 10.25% in 2010.

The Taiwanese Government plans to plough an extra T$380 billion ($12.4 billion) in tax revenue from last year back into the economy to help protect the island from global economic shocks.

A total of T$140 billion, part of the tax revenue, would be spent as cash payouts and each citizen would get T$6,000 ($195.61).

Su said that all citizens will receive the New Year blessing after the beginning of the Lunar New Year.

Taiwan is a global tech powerhouse and its economy continued to grow stably during the COVID-19 pandemic

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