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Kaohsiung leads Taiwan's local governments in per capita debt

2012/07/10 18:39:44

Taipei, July 10 (CNA) The average debt per capita in Kaohsiung at the end of June was the highest among local governments at NT$76,700 (US$2,563), while outlying Kinmen and Lienchiang counties reported zero debt, according to data released by local governments Tuesday.

Kaohsiung had long-term debt (maturing in more than one year) of NT$192.7 billion, and short-term debt (maturing within one year) of NT$20.2 billion, according to the city government.

The city also had self-financing debt of NT$29.26 billion, which is not factored into the per capita debt calculation.

On average, each of the city's 2.78 million residents owed NT$76,700, the city's figures showed.

Miaoli County had the second highest debt per capita at NT$71,000, with long-term debt of NT$25.4 billion and short-term debt of NT$14.5 billion.

The county's self-financing debt was NT$9.1 billion.

Aside from the debt-free Kinmen County and Lienchiang County, which administers Matsu, Chiayi City had lowest average debt per capita among local governments at NT$9,000.

The Ministry of Finance said Yilan County, Miaoli County and Hsinchu City have exceeded their debt ceiling restrictions and that it had asked the three localities to improve their finances in a limited time period.

Taiwan's five special municipalities and 17 cities and counties posted their public debt burdens for the first time on Tuesday at the request of the Legislative Yuan, and they will continue to do so on the 10th day of each month.

Meanwhile, as of the end of June, the central government had long-term debt (maturing in more than one year) of NT$4.894 trillion and short-term debt of NT$130 billion. National debt per capita fell in June by NT$7,000 from May to NT$216,000.

(By Eva Feng and Jamie Wang)