Budget, Accounting, and Statistics under the Executive Yuan expected that Taiwan’s GDP growth rate would be approximately 2.31% in 2013 and it cut its economic growth forecast to lower percent from an earlier projection due to economic environment in the country and foreign countries leading to economic downturn as the key reasons came from lower export, investment and consumption of private sector.
Shih Su-mei (石素梅), minister of the Executive Yuan’s Directorate General of Budget, Accounting and Statistics (DGBAS) said during the inquiry session of Member of the House of Representative that export figures were part of GDP calculation which was lower than expected in 2013 so the GDP figures shall be decreased. In addition, in October 2013, investment and consumption figure of private sector tended to be lower and whether this year’s GDP growth will reach the government’s goal of 2 percent is uncertain at this point.
Office of Labour Affairs in Taipei.
