DBS expects Taiwan’s GDP to grow 2.1% in 2017

Focus Taiwan
Date: 2016/12/14
By: Tsai Yi-chu and Frances Huang

Taipei, Dec. 14 (CNA) DBS, a Singapore-based banking group, said Wednesday that Taiwan’s

CNA file photo

economic momentum is expected to pick up in 2017, with its gross domestic product (GDP) likely to grow 2.1 percent.

The DBS forecast suggested an improvement from 2016, when the local economy was estimated by the banking group to grow 1.5 percent from a year earlier in reflection of a stronger global economy.

Ma Tieying, a DBS economist, said that based on a forecast by the International Monetary Fund — which said the global economic growth for 2017 will hit 3.4 percent, up from 3.1 percent estimated for 2016 — Taiwan is expected to do better next year accordingly.

She said that Taiwan is likely to climb out of a mediocre 2016. The average economic growth for the first three quarters of this year stood at only around 0.8 percent, according to the bank.    [FULL  STORY]

Leave a Reply

Your email address will not be published. Required fields are marked *

I accept the Privacy Policy

This site uses Akismet to reduce spam. Learn how your comment data is processed.