IMF forecasts 9.3% economic growth for Taiwan in 2010


TAIPEI — Taiwan’s real gross domestic product (GDP) growth is expected to reach 9.3 percent in 2010 and 4.4 percent in 2011, according to a forecast released by the Washington-headquartered International Monetary Fund (IMF) Wednesday.

Among other major economies in Asia, China is projected to post 10.5 percent growth in 2010 and 9.6 percent in 2011; Hong Kong 6 percent in 2010 and 4.7 percent in 2011; and Japan 2.8 percent in 2010 and 1.5 percent in 2011, the IMF’s World Economic Outlook showed.

The growth in South Korea is predicted to reach 6.1 percent in 2010 and 4.5 percent in 2011; Singapore 15 percent in 2010 and 4.5 percent in 2011; and India 9.7 percent in 2010 and 8.4 percent in 2011.

The report stated that Asia is continuing to lead the global recovery. (Related story on page 6) It added, however, that activity is projected to moderate from the second half of 2010 and in 2011 in line with the winding down of stimulus policies and tightening measures in economies facing demand pressures, as well as downdrafts from policy adjustments in advanced economies.

Overall, Asia is projected to grow by 7.9 percent in 2010 and 6.7 percent in 2011, the report said.