Taiwan’s economic growth forecast lowered to 2.08pc

18 June, 2019 12:00 AM printer

TAIPEI: Taiwan’s economic expansion in 2019 is expected to further slow amid growing uncertainties in the global economy, a local think tank said.

The Taiwan Research Institute has cut its forecast for the island’s economic growth rate in 2019 to 2.08 percent from the 2.34 percent projected in December, reports Xinhua.

Taiwan’s private consumption this year is forecast to grow by 1.98 percent, while private investment is likely to grow by 4.19 percent.

Cross-Strait relations and execution of the local budget will also weigh on the island’s economy in the second half of this year, said the think tank.