83403
Taiwan Forecast to Grow 2.42%
Taiwan Forecast to Grow 2.42%

Taiwan Forecast to Grow 2.42%

Taiwan Forecast to Grow 2.42%

Taiwan’s real gross domestic product is predicted to grow by an annual 2.42% in 2018 due to stable economic growth, a minimum wage hike and a salary increase for public sector employees, according to a report compiled by the Directorate General of Budget, Accounting and Statistics.
The report has already been submitted to the Legislature and on Monday DGBAS head Chu Tzer-ming will summarize its findings and answer questions from members of the Legislative Yuan’s Finance Committee, CNA reported.
The report notes that based on forecasts from London-based information company IHS Markit Ltd. and the International Monetary Fund, global economic growth will rise from 3.35 to 4.6% this year. The improvement in foreign demand is expected to continue and help boost Taiwan’s growth. However, with the relatively high comparison base, the pace of GDP growth is forecast to slow.
In terms of domestic demand, the steady growth of the domestic economy, improving job market, hike in basic wages and salary increases for public sector employees and some private enterprises workers mean the consumer market can expect a boost, according to the report.
In addition, expanded investment by leading semiconductor companies in next-generation advanced process technologies and the government’s introduction of programs for the development of innovative industries will help bolster investment in the country.

Short URL : https://goo.gl/v4TERF
  1. https://goo.gl/Gis617
  • https://goo.gl/ofkz8M
  • https://goo.gl/sqxcAa
  • https://goo.gl/o3stmT
  • https://goo.gl/zDW6ik

You can also read ...

While China tries to alleviate its demographic crunch, the aging society means a pension shortfall.
Forget that image of sweatshops making all kinds of cheap...
Russia Economic Recovery Underway
Retail sales in Russia picked up in April, while real wages...
In 2017 banks had total mortgage lending of around $352 billion.
High levels of household debt are the greatest risk to Sweden’...
Greece at Crucial Point
Discussions are heating up over future debt repayments for...
Saudi Gov’t Told Not to Boost Spending
The International Monetary Fund urged the Saudi government not...
Peru Economy Strengthens
Economic growth in Peru strengthened in the first quarter...
Brazil CB Keeps Rates on Hold
Brazil’s central bank considered cutting interest rates last...
EU Tells Italy to Cut Debt, Warns of Euro Spillover
Italy’s incoming government should aim to cut its heavy public...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus