TAIPEI–A National Taiwan University professor of economics has expressed scant confidence about the country’s economic outlook after the government revised downward its projection for 2012 economic growth to 3.03 percent Friday.
Chen Tain-jy, who has served as chairman of the Cabinet-level Council for Economic Planning and Development, spelled out his forecast that economic growth might not be able to maintain its present scale if the international economic situation does not improve later this year.
In response to media inquiries, the scholar also forecast that plans initiated by the Ministry of Economic Affairs to boost Taiwan’s exports will not be easy to achieve in the short term. He suggested that Taiwan and China should speed up their trade talks by the end of the year to expand trade exchanges.
The Directorate General of Budget, Accounting and Statistics has adjusted its economic forecast for 2012 downward six times since last August, when it predicted that the growth rate of gross domestic product this year would stand at 4.58 percent.