By: Central News Agency
Taipei, Dec. 24 (CNA) Academia Sinica, Taiwan’s top academic research institution, said Thursday that it has cut its forecast for the country’s gross domestic product (GDP) for 2015, citing poor export performance and a sluggish global economy.
The flat economic growth for the year showed the fragile nature of Taiwan’s industrial structure, which makes the country vulnerable to changes in the regional trade, said Ray Yeutien Chou, a research fellow at Academia Sinica. He predicted that 2016 will also be a tough year.
Academia Sinica said it has downgraded Taiwan’s 2015 GDP growth forecast to 0.75 percent from an earlier estimate of a 3.24 percent rise made in July, joining several other local think tanks in holding a downbeat mood for the export-oriented economy. [FULL STORY]