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Taiwan GDP might bounce back in fourth quarter

Taiwan GDP might bounce back in fourth quarter

Taipei, Sept. 24 (CNA) Though forecasts from different financial institutions have indicated that there might be a bumpy road ahead for Taiwan's economy, National Development Council Minister Duh Tyzz-jiun (???) remained optimistic that the country's GDP might get back on track in the fourth quarter. On Wednesday, Yuanta-Polaries Research Institute (???????) slashed its economic growth forecast for Taiwan down to 1.15 percent this year, 2.17 percentage points lower than its previous estimate in June. Meanwhile, a recent report conducted by Citigroup Inc. (????) showed that the institution has maintained its forecast of Taiwan's GDP for 2015 at 2.0 percent. But considering the slowdown in global economic growth, Citigroup has trimmed its forecast for 2016 to 2.4 percent, down from 2.7 percent. Duh said that recent estimates of Taiwan's GDP growth for 2015 from different financial institutions, which include reports released by the Directorate General of Budget, Accounting and Statistics (DGBAS, ???), remain around 1.5 percent, though these numbers will be revised later. "We believe the economic growth for the third quarter will still be in bad shape since the statistics released in September are usually bearish. But there is room for the GDP to bounce back in the fourth quarter," added Duh. Asked if Taiwan could maintain a 1 percent increase in GDP for this year, Duh said that the forecasts from international financial institutions are between 1.1 percent and 1.65 percent, and these figures can serve as a guide. In August, the government cut its forecast for Taiwan's GDP for 2015 down to 1.56 percent due to weaker-than-expected exports. (By Yang Sh-min and Lee Meiyu)


Updated : 2021-06-13 20:20 GMT+08:00