[Finance] Taiwan's economic growth rate to exceed 10% this year? Minister of Economic Affairs: The opportunity exists.
bellala 央廣7h agoEdited
Democratic Progressive Party legislator Lai Jui-lung questioned today (17th) at the Legislative Yuan's Economic Committee whether Taiwan's economic growth rate could reach 10% as predicted by financial institutions. In response, Minister of Economic Affairs Kung Ming-hsin stated that the Directorate-General of Budget, Accounting and Statistics (DGBAS) had recently revised its economic growth forecast for this year up to 9.64%, and the opportunity to exceed 10% exists.
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Kung Ming-hsin pointed out that the continued vigorous development of the AI and semiconductor industries is a major driving force supporting economic growth. Meanwhile, other industries are also performing better than last year. For example, the machinery industry has shown outstanding export performance, with export growth reaching double digits in the first five months of this year, exceeding initial expectations and reflecting the continuous improvement of Taiwan's overall industrial competitiveness.
He mentioned that the opportunity for this year's economic growth rate to exceed 10% exists. He said: "(Original sound) I think the DGBAS has already revised its forecast to about 9.64%. Based on this trend, I believe these financial institutions also have their basis for such estimations, so the opportunity exists."
Regarding whether the Taiwan stock index will reach 50,000 points in the future, Kung Ming-hsin stated that the Ministry of Economic Affairs is not in a position to comment on stock index trends, but the stock market ultimately reflects fundamentals. Currently, Taiwan's economic fundamentals are sound. Whether looking at stock market performance or economic growth rate, the market generally holds a positive view.
Concerning traditional industries, Kung Ming-hsin mentioned that in addition to the NT$46 billion special budget for related support, the Executive Yuan allocates over NT$10 billion annually to small, medium, and micro enterprises. This year, President Lai Ching-te also proposed a NT$100 billion "Accelerated Revitalization Plan for Small, Medium, and Micro Traditional Industries" to help these enterprises seize the opportunity of economic growth and allow the industry to tangibly feel the benefits of economic growth.
Regarding the impact of the Middle East situation on energy supply, Kung Ming-hsin stated that domestic oil and gas supply is currently secure, with sufficient inventory to meet demand, and supply will not be an issue before the end of this year. He also mentioned that a partial agreement has been reached between the United States and Iran, and international oil prices are showing a downward trend. Domestic oil prices will appropriately reflect changes in international oil prices in the future. (Editor: Song Wan-yuan)
Further Reading
Consumption and Traditional Industries Exceed Expectations, Yeh Chun-hsien: "Of course there's a chance" for economic growth rate to exceed 10% this year
Source Link: https://www.rti.org.tw/news?uid=2&pid=214982
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