Taiwan to introduce stimulus coupons in July

by BERNAMA/ pic by AFP

TAIPEI – Taiwan’s government will issue stimulus coupons to members of the public in July amid ongoing efforts to boost the economy, which has been adversely impacted by the novel coronavirus disease (COVID-19), Vice Minister of Economic Affairs Wang Mei-hua said Wednesday.

Further details and a timetable for the rollout of the plan will be made public in June, so the program can be implemented in time for the summer vacation that starts on July 15, Wang said during a legislative session.

According to the report by Taiwan’s Central News Agency (CNA), Wang said the coupons will be issued in both paper and electronic forms to meet the needs of different age groups, but she did not elaborate on who will be eligible for the coupons or the size of the stimulus.

CNA said although some have suggested the program should be in the form of cash handouts, Wang said the package aims to directly boost consumption.

Currently, the government has introduced a NT$210 billion (about RM30.5 bln) special budget to finance measures designed to curb the spread of the disease and support the economy amid the global COVID-19 pandemic.