After the pandemic, global economy appear on a downward trend. However, Minister Chu Tzer-ming believes that with the special post-epidemic recovery budget, Taiwan's annual GDP may reach 2.45 percent.
With the egg prices going up continuously, coupled with inflation and rising commodity prices, legislators wonder whether the Minister of Directorate General of Budget, Accounting and Statistics (DGBAS) Chu Tzer-ming in fact knows what harsh realities the people are going through.
Lin De-fu, Legislator (KMT): “How much is a catty of eggs now do you know?”
Chu Tzer-ming, DGBAS Minister: “Eggs now cost NT$70-80 per catty. Domestic commodity prices have gone up because of food. The main thing is the price increase of bulk goods due to importation.”
Chu Tzer-ming emphasized that if prices are going up due to costs at the place of origin, the government should not intervene. He believes that domestic prices are mostly affected by imported inflation so there should not be stagflation. After the injection of a special post-pandemic budget, the GDP may go up to 2.45 percent. However, pan-green legislators pointed out that numbers and how the public actually feels may be at a large discrepancy.
Kuo Ko-wen, Legislator (DPP): “An increase in CPI means our actual salary is shrinking. The critical point remains to be our income.”
Wu Ping-jui, Legislator (DPP): “Last year, public employees' salaries were not adjusted. Maybe we should consider adjusting this year.”
Chu Tzer-ming, DGBAS Minister: “As commodity prices go up, actual salaries will feel reduced so an adjustment seems appropriate.”
The DGBAS expressed that whether public employees' salaries will be increased depends on commodity prices; however, the ultimate decision will be made by the Adjustment Committee of the Directorate-General of Personnel Administration, Executive Yuan. The salary increase will be implemented only after approval by the Premier.