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CIER raises 2010 GDP forecast to 6.94 percent

CIER raises 2010 GDP forecast to 6.94 percent

The Chung-hua Institution for Economic Research anticipated Taiwan's real gross domestic product in 2010 to be revised up to 6.94 percent from 4.99 percent, Wang Lee-rong, director of the CIER's center for economic research, said at a press conference yesterday.
The upward revision came from increase in export orders and private investments, she added.
The Taiwanese government has been attracting foreign investments aggressively. The Taipei-based institute believes this could provide a boost to the real GDP growth. As a result, it estimated that business investments would grow by 22 percent this year, a rise of more than 40 percent compared with last year.
Given the benefits from an early-harvest list for tariff concessions and commodities trading of the Economic Cooperation Framework Agreement with China, the real GDP growth may surpass 7 percent, said Wang.
But the GDP growth for the third and fourth quarter was projected to stand at 4.48 percent and 1.36 percent because the global market has seen a slow and protracted recovery in the second half of this year.
The Economist Intelligence Unit also revised their latest forecast for Taiwan's GDP growth down to 7.6 percent from 8.5 percent.


Updated : 2021-03-02 10:42 GMT+08:00