Taiwan residents to receive $313 in cash

Taiwan President Lai Ching-te has announced that the island's government will distribute 10,000 Taiwan dollars (about 313 US dollars) to residents. According to the president, this initiative will be considered during next year's budget discussion scheduled for August 20.

Taiwan is a world leader in chip production. The development of artificial intelligence has sharply increased demand for these chips. According to Bloomberg, Taiwan's economy grew by 12.6 percent in the second quarter of 2026. By the end of the year, the growth rate is expected to reach 11.1 percent.

This is the highest figure in the last 40 years. This growth is mainly due to the semiconductor manufacturing industry, and it has not covered all sectors of the Taiwanese economy equally.

“The government is not just focused on the tech industry: it is also concerned about every family struggling,” Bloomberg quoted Lai Ching-te as saying.

Even when the island’s economy grew by 8.8 percent in 2025, Taiwanese authorities were handing out NT$10,000 to residents. Taiwan’s population is about 23 million. It is not yet known how many people will receive the lump sum payment.

Earlier, it was reported that Taiwan would increase defense spending by 16 percent in 2027. As a result, the country’s defense budget is expected to exceed NT$1 trillion ($31 billion) for the first time.