IMF cuts GDP growth forecast for Taiwan

Focus Taiwan
Date: 2016/10/04
By: Rita Cheng and S.C. Chang

Washington, Oct. 4 (CNA) The International Monetary Fund (IMF) has adjusted downward its economic 201610040020t0001growth forecast for Taiwan for this year and next, to 1.0 percent and 1.7 percent, respectively.

In its World Economic Outlook (WEO) released Tuesday, the IMF cut its 2016 and 2017 forecast for Taiwan by 0.5 percent from its previous respective forecasts of 1.5 percent and 2.2 percent, which was released in April.

With such lackluster performance, Taiwan’s economy will do better than only Japan and Macau in Asia, while lagging behind its former “Asian Dragon” rivals — South Korea, Hong Kong and Singapore.

The IMF’s forecasts for these Asian Dragons this year and next are 2.7 percent and 3 percent for South Korea, 1.4 percent and 1.9 percent for Hong Kong, and 1.7 percent and 2.2 percent for Singapore.    [FULL  STORY]

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