Taiwan to grant each citizen approximately $330 next year

Taiwanese authorities announced plans today to distribute cash payments equivalent to $330 to each eligible resident next year, amid the accelerating pace of economic growth driven by rising global demand for artificial intelligence.

Lai Ching-te revealed the announcement in a Facebook post, ahead of the expected unveiling of the budget proposal next Thursday, according to Bloomberg News.

Lai stated that next year’s budget should maintain fiscal discipline while balancing the needs of security, development, and social welfare spending.

Taiwan’s economy grew by 12.9% in the second quarter of the year and appears on track to record its fastest full-year growth in four decades, thanks to massive investments in the island’s globally leading semiconductor industry.

This has helped boost revenues and pushed the stock market to gains of nearly 60% this year, although many of Taiwan’s 23 million residents feel they are not benefiting from these gains.

Lai wrote in the post, “We will not focus solely on the technology sector; we will also care for every family struggling to make ends meet,” acknowledging the disparities in growth across different sectors.

Lai also confirmed plans to allocate NT$1.12 trillion for defense spending in 2027.

However, the Democratic Progressive Party, led by President Lai, is likely to face difficulties during budget deliberations, as its members in the Legislative Yuan are outnumbered by members of the opposition Kuomintang party and its allies.

The 2026 budget was not approved until last Friday, marking the longest delay since the revision of spending rules in 1998 and 1999.