Think tank projects Taiwan’s annual GDP growth at 2.1%

One of the nation's leading economic think tanks has projected Taiwan's GDP growth for 2017 at 2.1%. That's according to the latest figures from the Yuanta-Polaris Research Institute, out on Wednesday.

The institute's figures show that Taiwan's economy registered 2.6% growth in the first quarter of this year. It's projecting growth rates for the next three quarters will drop to 2% and below.

According to the institute's chairman, Liang Kuo-yuan, Taiwan's economy has been benefiting from a recovering global economy. However, he said that the trend is weakening and Taiwan's economic growth may ease. Liang said that optimism is decreasing in many sectors.

Liang said that despite the conservative forecast for the second half of the year, the projection for overall annual growth remains unchanged. He said that's because the higher-then-expected growth in the first quarter contributed strongly to the overall growth, and that the release of the next generation iPhone in the fourth quarter will help boost Taiwan's economy as well.

Liang also said that it's not clear how the US and Chinese economies will impact Taiwan in the future.

Source: Radio Taiwan International