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Central Bank says economy facing uncertainties

17 June, 2024

Courtesy of ICRT

 

Taiwan’s Central Bank says factors including the US presidential election will cause uncertainty for Taiwan's economy this year.

 

Officials say the economy is rebounding steadily with several institutions raising their forecasts for its growth rate this year to over 3.5% but the bank says five major issues will affect the island's economic performance, most notably, the outcome of the presidential election in the US at the end of the year, which could lead to significant changes in the international political and economic landscape.

Other factors include monetary policy trends at major central banks, and the resurgence of trade disputes.

 

Overall, the Central Bank predicts Taiwan's full-year economic growth rate for 2024 will be 3.77%, in part due to explosive demand for artificial intelligence boosting Taiwan's export performance.

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