Taiwan issues shopping vouchers to spur economy
Taiwan on Sunday
issued shopping vouchers to boost the economy in its latest move to boost the
economy which has been hit by the global financial crisis, dpa reported.
Millions of Taiwanese queued up at 14,202 spots across Taiwan to pick up their shopping vouchers in the morning.
Each coupon is worth 3,600 Taiwan dollars (109 US dollars), and can be used on shopping or for other services like paying for a taxi ride, staying in a hotel or even singing in a Karaoke parlour.
President Ma Ying-jeou picked up the shopping vouchers for his family at an issuing station near his home in Taipei's Wenshan District.
"Taiwan is great because we are the first country to issue shopping vouchers in the global financial crisis. I will use these coupons on shopping, but will use more cash on shopping, to help stimulate our economy," he told reporters.
The government hopes to raise Taiwan's GDP by 0.64 percentage points by issuing the vouchers, which will cost the government 82 billion Taiwan dollars (2.48 billion US dollars).