Taiwan to hand out $314 to citizens as AI-fuelled economy surges

Taiwan is planning to give every citizen NT$10,000 (about $314) next year as the government seeks to share the benefits of a rapidly expanding economy driven by the global artificial intelligence boom.

President William Lai said the government would set aside NT$235.7 billion ($7.38 billion) for the cash handout in its 2027 budget, while maintaining a balanced budget with no net increase in debt, Caliber.Az reports via foreign media.

Taiwan’s economy is forecast to grow by 11.05% this year, its strongest performance in 39 years, fuelled by soaring demand for semiconductors, AI, high-performance computing and cloud services.

The government also plans to increase defence spending above 3% of GDP and invest heavily in AI infrastructure, public infrastructure, family support and local governments.

Lai said the measures were intended to ensure that Taiwan’s technology-led economic boom benefits households across the country, describing the payment as a way for citizens to share in the “AI dividend”.

By Aghakazim Guliyev