The Taiwan government’s Directorate General of Budget, Accounting and Statistics (DGBAS) has officially cut its forecast for gross domestic product (GDP) growth in 2020 to 2.37% in 2020, a downgrade from its earlier forecast of 2.72% made in November 2019, on fears that the spread of the 2019 novel coronavirus (Covid-19) will have an impact on both the domestic and international economy.