INFRASTRUCTURE:Preparations by companies qualified to receive funds from a government development program are expected to boost private investment
Date: Jul 20, 2017
By: Crystal Hsu / Staff reporter
Academia Sinica yesterday upgraded its forecast for the nation’s GDP growth this year to 2.18 percent, compared with 1.68 percent it predicted in December last year, as major economic gauges proved stronger than expected amid an improving global economy.
The nation’s economy has a fair chance to grow up to 3.74 percent this year, driven in the second half by Apple Inc’s next iPhone and the government’s infrastructure program, Academia Sinica research fellow Ray Chou (周雨田) said.
“The infrastructure program is favorable for the economy, although people might differ on its details and implementation,” Chou told a news conference.
A joint review by seven legislative committees yesterday approved a special budget of NT$108.9 billion (US$3.58 billion) for this year, part of the NT$420 billion Forward-looking Infrastructure Development Program designed to bolster infrastructure at the town and village levels, as well as enhance the nation’s water engineering projects, railways and digital infrastructure. [FULL STORY]