By: Central News Agency
Taipei, March 23 (CNA) The Yuanta-Polaris Research Institute, one of Taiwan’s leading think tanks, cut its forecast for Taiwan’s gross domestic product (GDP) growth for 2016 to 1.42 percent from an earlier estimate of a 1.93 percent rise, citing a worse-than-expected export performance amid weakening global demand.
The forecast was the lowest among Taiwan’s major think tanks so far.
The Chung-Hua Institution for Economic Research (CIER) has predicted that Taiwan’s GDP will grow 2.24 percent in 2016, while the Taiwan Research Institute (TRI) has anticipated that growth will hit 2.06 percent.
More downbeat than the CIER and the TRI, the Taiwan Institute of Economic Research (TIER) has forecast that Taiwan’s 2016 GDP will grow only 1.57 percent, and Academia Sinica, Taiwan’s top academic research institution, has estimated that the 2016 growth will reach 1.74 percent. [FULL STORY]