Public to feel effects of economic recovery: vice premier

Focus Taiwan
Date: 2018/09/18
By: Tien Yu-pin and Frances Huang

Taipei, Sept. 18 (CNA) Vice Premier Shih Jun-ji (施俊吉) said he has faith that the public

Vice Premier Shih Jun-ji

will eventually feel the effects brought by the ongoing economic recovery.

In a recent interview with CNA, Shih said that although many people have not yet enjoyed the benefits of the economic recovery, and some enterprises have complained that business has not been good, he said that as time goes by, “it will be proof that the economy is on the way to recovery and the public will be aware of an improvement.”

In mid-August, the Directorate General of Budget, Accounting and Statistics (DGBAS) raised its forecast for Taiwan’s gross domestic product (GDP) growth for 2018 to 2.69 percent from the previous estimate of a 2.60 percent increase made in May, citing better performance in the first half of this year.

Shih said that whenever the GDP grows by one more percentage point in Taiwan, the production value of the country will increase about NT$165 billion (US$5.36 billion), and the 2.69 percent growth means the country’s production growth will increase more than NT$400 billion, of which 55 percent will go to employees, with the remaining 45 percent going to employers.    [FULL  STORY]

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