IMF forecasts Taiwan GDP growth at 2.5% for 2019, 2020

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Author: Taichung photo

Author: Taichung photo (By Wikimedia Commons)

The International Monetary Fund (IMF) forecast that Taiwan's gross domestic product (GDP) will grow 2.5 percent in 2019 and 2020 in its latest World Economic Outlook report released Tuesday.

The IMF forecast for 2019 represents an increase from the 2 percent made in April 2018 and 2.4 percent in October 2018.

According to the IMF, consumer prices in Taiwan will grow 1.1 percent in 2019 and 1.2 percent in 2020, while unemployment was projected at 3.7 percent for the two years.

The IMF forecast GDP growth in China at 6.3 percent and 6.1 percent in 2019 and 2020.

It also forecast that Hong Kong's economy will grow 2.7 percent and 3.0 percent in 2019 and 2020, while South Korea will grow by 2.6 percent and 2.8 percent, and Singapore's GDP growth was projected at 2.3 percent and 2.4 percent.