Focus Taiwan
Date: 2019/09/19
By: Wu Chia-jung, Pan Tzu-yu and Frances Huang
Taipei, Sept. 19 (CNA) The local central bank forecast Thursday gross domestic product (GDP) growth in Taiwan of 2.34 percent for 2020, with domestic demand expected to drive growth.
However, the forecast for 2020 is lower than the 2.40 percent increase expected by the central bank for 2019, after increasing its forecast for the year by 0.34 percentage points from the previous forecast in June.
It was the first time the bank has given a GDP growth forecast for 2020.
The central bank was more cautious about the local economy than the Directorate General of Budget, Accounting and Statistics, which forecast in late August that Taiwan's GDP will grow 2.46 percent and 2.58 percent in 2019 and 2020, respectively. [FULL STORY]