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Taiwan cuts 2015 GDP growth forecast to 1.06%

Taiwan cuts 2015 GDP growth forecast to 1.06%

The Directorate General of Budget, Accounting and Statistics (DGBAS) said Friday that it has cut its forecast for Taiwan's gross domestic product (GDP) growth for 2015 to 1.06 percent from an earlier estimate of a 1.56 percent increase, in reflection of weakening global demand.

The revised forecast appeared more upbeat than some economic think tanks, which have trimmed their estimates for Taiwan's 2015 economic growth to less than 1 percent.

The Taiwan Institute of Economic Research and the Chung-Hua Institution for Economic Research have downgraded their forecasts to 0.83 percent and 0.9 percent, respectively.

Updated : 2021-09-26 00:51 GMT+08:00