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ADB cuts forecast for Taiwan's 2015 GDP growth to 1%

ADB cuts forecast for Taiwan's 2015 GDP growth to 1%

The Asian Development Bank (ADB) on Thursday downgraded its forecast for Taiwan's gross domestic product (GDP) growth for 2015 and 2016.

In a supplement to the September 2015 Asian Development Outlook Update report, the ADB predicted that Taiwan's GDP will grow 1 percent in 2015 and 2.4 percent in 2016, slower than the 1.6 percent and 2.6 percent it had previously projected.

It forecast that China's GDP will expand 6.9 percent this year, slightly more than the 6.8 percent previously projected, and in 2016 will grow 6.7 percent.

The ADB maintained its 2.7 percent growth forecast for South Korea this year, but revised its 2016 projection from 3.4 percent to 3.3 percent.

Meanwhile, the bank predicted that Singapore's GDP will expand 2 percent in 2015 and 2.3 percent in 2016, slower than the 2.1 percent and 2.5 percent previously projected. (By Y.F. Low)


Updated : 2021-09-18 13:40 GMT+08:00