Radio Taiwan International
Date: 2017-12-19
The Chung-Hua Institution for Economic Research (CIER) announced Tuesday that it now
CIER head Wu Chung-shu (center). (CNA file photo)
predicts Taiwan’s economic growth for the year will reach 2.53%.
This would make 2017 the third consecutive year with increased economic growth. By comparison, growth in 2016 reached 1.41%. CIER head Wu Chung-shu says global economic recovery this year has exceeded expectations, spurring growth in trade.
With a higher base level brought by growth this year, the CIER is forecasting a somewhat lower rate of growth for 2018 — 2.27%. Wu said that with government efforts to raise wages, growth next year will rely on domestic consumption. Wu also said the government’s infrastructure plan could be beneficial to the economy next year if it manages to spur private investment. However, he said a decline in capital goods coming into Taiwan should still be reversed. [FULL STORY]