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Taiwan economy likely to grow above 6% this year, finance minister says By Reuters




TAIPEI (Reuters) – Taiwan’s financial system is more likely to develop greater than 6% this 12 months, Finance Minister Su Jain-rong mentioned on Wednesday, providing a forecast barely extra optimistic than the central financial institution’s outlook final week.

Su made the remark whereas taking lawmaker questions in parliament.

Final week, the central financial institution had revised up the island’s annual development outlook as robust exports bolstered a trade-reliant financial system that has boomed even within the face of native COVID-19 circumstances, which are actually nicely below management.

The central financial institution raised its 2021 estimate for gross home product (GDP) development to five.75% from the 5.08% forecast in June.

Progress hit 3.11% in 2020, after increasing 2.71% in 2019.

Taiwan’s GDP expanded by 7.43% within the second quarter of 2021, down from 8.92% within the first quarter, pulled decrease by a partial lockdown to forestall home COVID-19 infections from spreading.

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