By: Rita Cheng and S.C. Chang
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]