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Taiwan economy likely to rebound in mid-2009: President Ma

Taiwan economy likely to rebound in mid-2009: President Ma

Taipei, Dec. 29 (CNA) Taiwan's economy is likely to rebound in the middle of next year thanks to a series of measures being adopted by the government to stimulate the economy, President Ma Ying-jeou said in an exclusive interview with Web site Yahoo! Kimo that will be posted in its news section Tuesday.
Though he acknowledged that there is no "panacea" that will quickly turn around the country's contracting economy, Ma said he believes the impact of the government's stimulus measures will begin to be felt in the second quarter next year.
At a time when many workers have been laid off, the government should make preparations and get ready for the next round of economic recovery, he said.
Apart from more than 50,000 jobs opened by a temporary work creation project launched by the Council of Labor Affairs in November, the government will also put in place a separate employment program next year that hopes to create another 220,000 job opportunities.
In addition, he said, the government will invest NT$85 billion (US$2.58 billion) in a consumption voucher program and another NT$270 billion on 12 national infrastructure projects to get the economy going.
The voucher program is a short-term policy designed to fuel economic activity in the retail and restaurant sector in view of a sharp slump in private-sector consumption, he explained.
Ma admitted, however, that this kind of measure cannot be implemented every day, and he said creating jobs and expanding infrastructure along with stepping up private sector consumption were all crucial to reinvigorating Taiwan's economy.
Thanks to Taiwan's strategic location in East Asia and because of the government's economic stimulus measures, the country's economy will definitely take off at a rapid pace after the current economic recession comes to an end, the president predicted.
In terms of economic ties with China, Ma noted that the Dec. 15 establishment of daily charter flights and the opening of shipping and postal links between Taiwan and China has yet to positively impact Taiwan's economy.
He said, however, that the new links will at least help shipping and aviation companies reduce travel times and costs across the Taiwan Strait, and suggested now was a good time for Taiwan's people to consider how the operating model for the new one-day life circle across the Taiwan Strait will evolve.
Ma is the third head of state interviewed by Yahoo after U. S.
President George W. Bush and South Korean President Lee Myung-bak. The questions directed to Ma in the interview were selected by a vote by more than 10,000 Yahoo! Kimo users from over 100 inquires collected by its polling center.
The questions focused on economic issues of major public concern, including the government's voucher program, consumer product price hikes and countermeasures to tackle the current economic downturn.
The interview will also be published by Yahoo! in Japan, South Korea, Hong Kong, Australia and the United States from January next year.
(By Flor Wang)




Updated : 2021-07-24 05:39 GMT+08:00