Minister of Economic Affairs Yiin Chii-ming (尹啟銘) said yesterday he believed economic growth of more than 2 percent this year was a “reasonable goal to pursue.”
Yiin said at a news conference that the Directorate-General of Budget, Accounting and Statistics and the IMF set Taiwan’s economic growth for this year at 2.12 percent and 2.2 percent respectively.
The forecast came after economic forecaster Global Insight said that Taiwan would perform the worst economically among the four Asian Tigers (also including Singapore, Hong Kong, and South Korea) this year.
Yiin said, however, that the government had implemented a series of measures to stimulate the economy and the benefits would become apparent in the third and fourth quarters.
“Although the first and second quarters will be hard, the economy will turn for the better afterwards,” he said.
He also said the Cabinet had set the goal of approving NT$1 trillion (US$30.3 billion) in major private investment projects this year.