The Taiwan Research Institute has adjusted its forecast for Taiwan’s gross domestic product growth for 2016 down by 1.14 percentage points, from 2.06% to 0.92%, CNA reported. The institute, a privately funded non-profit organization devoted to the planning of Taiwan’s overall strategic development and in-depth study and analysis of Taiwan’s public policy, announced the adjustment Friday. TRI President Wu Tsai-yi said exports are the major driver of Taiwan’s economic growth. Due to a slow recovery of the global economy, however, the major markets for exports from Taiwan have suffered from recession, which has affected the willingness of domestic businesses to invest, he said.
