CIER revises GDP forecast upward
Courtesy of ICRT
An economic think tank is getting more optimistic about the local economy.
The Chung-hua Institution of Economic Research has released its latest GDP growth estimate for Taiwan’s economy this year, which now stands at 1.76%. That is up from the 1.33% growth prediction it issued in July.
CIER says that while growth bottomed out in the second quarter, things are expected to pick up significantly in the third and fourth quarters. It went on to predict economic growth of 3.42% in 2021.
The government’s official GDP forecasts, made by the Directorate General of Budget, Accounting and Statistics (DGBAS), currently stand at 1.56% for 2020 and 3.92% for 2021.