TAIPEI (Taiwan News) — If the current COVID-19 surge is contained by the end of June, economic growth will only be 0.16 percent less than originally predicted, the National Development Council (NDC) said Tuesday (May 16).
Taiwan’s Gross Domestic Product (GDP) has been growing at a steady clip all through the pandemic, but the recent surge of domestic transmissions to more than 200 a day will not change much if containment policies succeed soon, according to the NDC.
However, if the epidemic remains serious until the third quarter of 2021, the impact on economic growth could expand to 0.53 percent, CNA reported. NDC Minister Kung Ming-hsin (龔明鑫) said the Cabinet’s extra COVID relief budget of NT$210 billion (US$7.52 billion) was sufficient to support local business and to account for 0.9 percent of GDP growth.
Earlier, the government estimated the economy grew by 8.16 percent during the first quarter of 2021, the fastest pace since the final quarter of 2010.