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Cabinet to present further economic stimulus plans

Cabinet to present further economic stimulus plans

Taipei, Aug. 26 (CNA) The Cabinet expects to present a detailed economic stimulus package by late September to energize the country's struggling economy, after soliciting opinions from business representatives, an official said Sunday. The package of short-, medium- and long-term measures will be completed after a series of five meetings between Cabinet officials and business representatives on several economic issues, said Cabinet spokesman Hu Yu-wei. The Cabinet has already held three meetings with business representatives in the areas of international trade, energy policy and banking and financial services. Two other meetings, on manpower and on tourism, are scheduled to take place later this week. Among the issues being addressed include attracting private investment in public infrastructure projects, getting Taiwanese businessmen operating overseas to increase investment back home, attracting foreign investment, and retaining homegrown talent, Hu said. The government will also review its current policies and mull loosening regulations to facilitate economic development, Hu said, before presenting the package prior to the opening of the next legislative session on Sept. 18. In early August, Minister without Portfolio Kuan Chung-ming said the plan would also look at promoting industrial diversity and innovation, expanding export markets, and improving government efficiency. Earlier this month, the Directorate General of Budget, Accounting and Statistics cut its growth forecast for Taiwan's gross domestic product (GDP) in 2012 to 1.66 percent, from a previous estimate of 2.08 percent, amid a weakening global economy. (By Elaine Hou)


Updated : 2021-06-21 16:12 GMT+08:00