RELATIVELY UPBEAT OUTLOOK: Government spending would drive economic growth and private investment would increase 3.2% year-on-year, a researcher said
Taipei Times
Date: Jun 23, 2020
By: Kao Shih-ching / Staff reporter
Cathay Financial Holding Co chief investment officer Sophia Cheng, third left, National Central University economics professor Hsu Chih-chiang, third right, National Chengchi University associate professor of economics Hsu Shih-hsun, second right, and other research team members hold placards at a news conference in Taipei yesterday.
Photo: Kao Shih-ching, Taipei Times
The company said that it expects investment and government spending to cushion the nation’s economy from the effects of the pandemic, making its forecast the most optimistic of all released forecasts.
The Directorate-General of Budget, Accounting and Statistics (DGBAS) predicted 1.67 percent growth, the central bank forecast 1.52 percent growth and DBS Bank Ltd said that it expects a contraction of 1 percent.
“We perhaps are more upbeat for [the] local economy than the government and our peers, but there are data that support our optimism,” said Hsu Chih-chiang (徐之強), an economics professor at National Central University who heads a research team commissioned by Cathay Financial. [FULL STORY]
