Taiwan's Central Bank to Contribute Some US$6 Billion to Government in 2015

Taiwan’s central bank is projected to contribute profits of NT$180.048 billion (US$6.002 billion) to the government in 2015, according to a report by F. N. Perng, governor of the central bank.

Since 2010 the central bank has handed over about NT$180 billion (US$6 billion) annually to the government. Perng became central bank governor in 1998, with combined profits throughout 2015 contributed to the government an estimated  NT$2.77 trillion (US$92.33 billion), sufficient enough to build 48 "Taipei 101" skyscrapers or six Taiwan High-Speed rails.

In 2008 Taiwan’s gross domestic products (GDP) reached NT$12.6 trillion (US$420 billion), to then rise to NT$14.5 trillion (US$483.33 billion) by 2013 for a growth of 15% in five years. In the same period, the central bank’s assets jumped to NT$14.31 trillion (US$477 billion) from NT$10 trillion (US$333.33 billion) to surge 43% or NT$4 trillion (US$133.33 billion), much higher than the said GDP growth.

As of the end of October, the outstanding value of CDs (certificates of deposit) issued by the central bank amounted to NT$6.8681 trillion (US$228.94 billion), which could grow to a record high exceeding NT$7 trillion (US$233.33 billion) by the end of November. (JL)