By: Tsai Yi-chu and Frances Huang
Taipei, Dec. 14 (CNA) DBS, a Singapore-based banking group, said Wednesday that Taiwan’s
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]