By: Tien Yu-pin and Frances Huang
Taipei, June 24 (CNA) Taiwan’s gross domestic product (GDP) for 2017 is expected to grow more than 2 percent on the back of a global economic recovery, but may slow down in the third quarter of the year, according to Cathay Financial Holding Co. (國泰金).
Cathay Financial, one of the leading financial holding firms in Taiwan, said in a research paper that it was retaining its forecast of 2.1 percent economic growth in 2017.
Several other financial institutions and economic think tanks have also forecast that Taiwan’s GDP growth will top 2 percent in 2017, compared with a 1.52 percent increase in 2016.
The government, meanwhile, has upgraded its 2017 GDP growth forecast to 2.05 percent from 1.92 percent. [FULL STORY]