Taiwan cuts first quarter GDP growth forecast amid coronavirus scare

Focus Taiwan
Date: 04/30/2020
By: Pan Tzu-yu and Joseph Yeh

Taipei, April. 30 (CNA) Taiwan's government on Thursday downgraded its forecast for gross domestic product (GDP) growth in the first quarter of 2020 in the wake of the COVID-19 coronavirus pandemic, the Directorate General of Budget, Accounting and Statistics (DGBAS) said.

The DGBAS said it expects Taiwan's first-quarter GDP to grow by 1.54 percent from a year earlier, a downgrade from its earlier forecast of 1.8 percent made in February, noting that the spread of the coronavirus since the end of last year has introduced an element of uncertainty into the economy.

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