Focus Taiwan
Date: 2017/10/10
By: Chen Cheng-wei and Romulo Huang

Taipei, Oct. 10 (CNA) Taiwan should further accelerate its industrial upgrading by increasing investment in research and development, and in its invention and innovation programs, an official of the National Development Council (NDC) said Tuesday.

Commenting on the International Monetary Fund’s World Economic Outlook released that day, in which the IMF adjusted upward its forecast for Taiwan’s economic growth to 2 percent this year, from 1.7 percent estimated in April, NDC Deputy Minister Chiou Jiunn-rong (邱俊榮) said that Taiwan’s economic structure remains solid and he attributed the nation’s improved economic performance mainly to global economic recovery which, he said, led to Taiwan’s export increase.

He warned, however, that IMF has issued an alert for Taiwan by lowering its forecast for the nation’s economic growth to 2.2 percent in 2022, from 2.5 percent it predicted in April.    [FULL  STORY]