By: Pan Tzu-yu and Elizabeth Hsu
The top academic research institution in Taiwan released its economic forecast on Wednesday, in which it attributed economic growth to "the united efforts and actions of the government and the people to fight and control the pandemic."
Referring to Taiwan as a "shining pearl in the countercurrent of the pandemic," the institution further projected that Taiwan will see annual GDP growth rate of 4.24 percent in 2021, when the global economy is expected to recover, following recent progress in the development and rollout of vaccines for the virus.
"Revival of foreign trade and robust investment growth will continue to sustain Taiwan's solid economic growth in 2021," Academia Sinica said. [FULL STORY]