Taipei--The Yuanta-Polaris Research Institute (?????????), one of Taiwan's leading economic think tanks, forecast growth of 2.1 percent in gross domestic product (GDP) for 2017, up from an earlier estimate of 1.8 percent in December.
Citing the promising global economic outlook, Yuanta-Polaris President Liang Kuo-yuan (???) said Taiwan should benefit from this positive trend, which could accelerate the pace of local economic growth.
Yuanta-Polaris forecasts quarterly GDP growth figures for Taiwan this year of 2.48 percent, 2.28 percent, 1.80 percent, and 1.86 percent, respectively.
However, the institute cautioned that the upturn could still prove to be short-lived, as quarter-to-quarter data shows a slowing of momentum in the local economy.
The uncertainty over cross-strait policies, coupled with a lack of new economic initiatives and resource planning, are factors that could impact Taiwan's long-term economic prospects, Liang said.
He added that if the government fails to come up with effective measures to boost the economy, local economic prospects could dim and the current rebound fade.
Source: Focus Taiwan News Channel