Focus Taiwan
Date: 10/13/2020
By: Pan Tzu-yu and Frances Huang
According to the IMF, Taiwan's GDP growth for 2020 is expected to stand at zero, a significant upgrade from a 4 percent contraction forecast by the organization in April.
The IMF said that with the global economy gradually moving away from the impact resulting from COVID-19, Taiwan's economy is expected to recover in 2021 and grow 3.2 percent, compared with an earlier estimate of a 3.5 percent increase.
However, Kung Ming-hsin (龔明鑫), minister of the National Development Council (NDC), said Taiwan's economic strength has been undervalued by the IMF despite the upgrade.
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