By: Pan Tzu-yu and Evelyn Kao
Taipei, March 24 (CNA) Taiwan’s gross domestic product (GDP) growth for 2019 will
remain above 2 percent this year due to firming domestic demand and investment, according to Taiwan Institute of Economic Research (TIER) President Chang Chien-yi (張建一).
Chang made the forecast after the Directorate General of Budget, Accounting and Statistics (DGBAS) recently lowered its forecast for Taiwan’s 2019 economic growth to 2.27 percent from an earlier estimate of a 2.41 percent increase made in November 2018.
Taiwan’s central bank also decided last week to cut its 2019 GDP growth forecast for the country by 0.2 percentage points from its previous estimate in December 2018 to 2.13 percent.
The two downward revisions sparked concerns that growth could possibly fall below 2 percent. [FULL STORY]