Vice Premier Lin Hsin-i (林信義) said yesterday that expansion of the government's fixed investments is urgent, as potential pressure for deflation already exists.
Lin, also chairman of the Council for Economic Planning and Development, made the remarks at the Legislative Yuan where several legislative committees were reviewing the draft regulations regarding the expansion of public construction projects, which will provide a legal basis for the new 10 major public construction projects of the Cabinet.
Lin said that government investment in recent years has continued to fall, which he said has not only seriously affected the growth potential of the economy, but has become one of the major factors blocking economic growth.
He said that fixed investment accounted for 7.3 percent of the GDP in 1994, compared with only 4.1 percent of the GDP last year, adding that fixed investment has shown negative growth since 2000.
Lin said that fixed investment growth in the private sector was minus 11.5 percent, while public construction growth was minus 7.8 percent.
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