Taiwan's economic growth rate will hit 5 percent next year due to the government's public construction drive and continued investment by the private sector, a government official said yesterday.
Hu Sheng-cheng (
Hu based his optimism on the fact that the country is set to achieve an economic growth rate of 5.9 percent for the whole of this year, the best performance in seven years, coupled with an improved jobless rate. Taiwan's November unemployment rate stood at a relatively low 4.14 percent -- the lowest level since May 2001.
According to Hu, the CEPD is confident of meeting its 5 percent target for next year on the back of start of the government's "10 New Major Construction Projects" plan.
However, Theodore Huang (
Huang said that he would rather be "cautiously optimistic" in this regard and called for more investment from the private sector.