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Taiwan revises economic growth for 2021 to highest level in 7 years

Economy likely to surge by 4.64% despite pandemic

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Taiwan's economy in 2021 is likely to show the strongest growth in seven years 

Taiwan's economy in 2021 is likely to show the strongest growth in seven years  (CNA photo)

TAIPEI (Taiwan News) — Taiwan’s economy is on course to expand by 4.64 percent during 2021 despite the COVID-19 pandemic, its highest growth level in seven years, the government said Saturday (Feb. 20).

The previous forecast by the Cabinet-level Directorate General of Budget, Accounting and Statistics (DGBAS) put growth for the year at 3.83 percent, but that prediction was made in November, CNA reported. For the entirety of 2020, the new figure for GDP growth stood at 3.11 percent, an upward revision from the previous estimate of 2.98 percent, the DGBAS commented.

However, the government cautioned that the continued evolution of the pandemic, trade disputes between the United States and China, and the economic and monetary policies of individual nations still cast a shadow of uncertainty over this year’s GDP developments.


Updated : 2021-03-04 08:39 GMT+08:00