Taiwan's economic growth is likely to exceed 1.87 percent in 2017, an economic planning official said on Wednesday.
Kung Ming-hsin (???), deputy minister of the National Development Council, said that Taiwan's economy has displayed signs of steady recovery, noting that the Directorate General of the Budget, Accounting and Statistics has forecast economic growth for this year of 1.87 percent, higher than in 2016.
In light of the improving economic climate and the Executive Yuan's plans to unveil a new economic development policy, growth should be higher than 1.87 percent, he said.
Kung noted the world economy will grow by between 2.8 percent and 3.4 percent in 2017, higher than last year, adding that a lot of countries will use fiscal policy rather than monetary policy to stimulate economic growth.
Kung identified four major economic risks this year, including the possibility that the U.S. could take a tougher stance on trade talks after Donald J. Trump assumes office on Jan. 20 and a strong U.S. dollar which will be detrimental to emerging markets.
Other risks included the start of the Brexit process by Britain by the end of March and national elections in France and Germany in April and May.
Economic growth in China could be low and it remains to be seen if Beijing will adjust policy in the wake of a leadership reshuffle, he said.
Kung made the remarks at a news conference after a meeting of the Executive Yuan.
Cabinet spokesman Hsu Kuo-yung (???) said the world economy has shown signs of recovery as has the domestic economy.
He said Premier Lin Chuan (??) has instructed officials to focus on industrial and social structural transformation, with the goal being to expand investment in infrastructure to promote long-term economic development.
Source: Focus Taiwan News Channel