Focus Taiwan
Date: 2018/11/30
By: Pan Tzu-yu and Frances Huang 

Taipei, Nov. 30 (CNA) The Directorate General of Budget, Accounting and Statistics (GDBAS) announced lower forecasts for gross domestic product (GDP) growth in 2018 and 2019 on Friday.

The DGBAS said it has cut the estimate for Taiwan’s GDP growth in 2018 by 0.03 percentage points from a forecast in August to 2.66 and downgraded its forecast for 2019 by 0.14 percentage points to 2.41.

Chu Tzer-ming (朱澤民), head of the DGBAS, told the press that despite the downgrade in GDP growth forecasts, Taiwan’s economy remains on the track to grow at a stable pace.

The DGBAS said the cut in the 2018 forecast was in part a result of weaker than expected private consumption in the third quarter so private consumption for 2018 is expected to grow 2.17 percent, down 0.30 percentage points from the earlier estimate.    [FULL  STORY]