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Economic growth to increase 3.35% in 2015: think tank

Economic growth to increase 3.35% in 2015: think tank

Taipei, June 16 (CNA)
The Taiwan Research Institute (TRI), a private think tank, cut its forecast Tuesday for Taiwan's economic growth this year to 3.35 percent, thanks to a weak recovery in the global economy. In its latest forecast, it predicted that Taiwan's economy will expand 3.35 percent, down slightly from 3.43 percent in its previous forecast made in December last year.
The institute attributed the decline to a weak economic recovery worldwide and weak exports and investment at home. However, the think tank was upbeat about local consumption this year, as agricultural and industrial materials remain low, which is keeping commodity prices in check.
The TRI forecast real consumption on the island to grow 2.84 percent this year, up from its earlier prediction of 2.77 percent.
The think tank's forecast compared with the government's official forecast for economic growth at 3.28 percent.
Shih Su-mei, head of the Directorate-General of Budget, Accounting and Statistics in late May cut her forecast for Taiwan's economy in 2015 by 0.5 percentage points as she anticipated a drop in both exports and imports.
(By Chen Cheng-wei and Scully Hsiao)


Updated : 2021-09-18 17:00 GMT+08:00