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Experts express optimism over Taiwan's economic outlook
Central News Agency
2013-02-17 06:55 PM
Taipei, Feb. 17 (CNA) Experts expressed optimism over Taiwan's economic growth in 2013 on Sunday, as positive signs showed a continuing global economic recovery that might further boost investments and business inventories. Gordon Sun, director of the Taiwan Institute of Economic Research (TIER)'s Macroeconomic Forecasting Center, said recently that there were positive signs pointing towards economic recovery in the United States, Japan and China. The momentum is likely to boost businesses to increase their investments, as well as inventories, for the second quarter, Sun said, adding that the Taipei-based think tank forecast that the manufacturing sector's cyclical movement for 2013 will turn from "blue" light, implying recession, to "yellow-blue" light. The global economic growth forecast for 2013 will be similar to last year, only 0.1 to 0.2 percentage points higher than last year, Sun said, though the public is now "more optimistic." Over the past 10 years, Taiwan's economic growth averaged about 4 percent annually, Sun said, adding that Taiwan's economic growth for 2013 was projected to be about 3.49 percent. He further noted that the new cabinet is unlikely to launch additional unpopular policies, such as a capital gains tax on stock investments, as well as hikes in fuel and electricity prices that were introduced by the government in 2012 and significantly impacted consumer spending and stock markets. However, Sun cautioned that economic uncertainties for the first half of 2013 might include the depreciation of the Japanese yen. Investors should pay more attention to some international factors in the first six months of the year, such as the Greek and European debt crises, as well as the U.S. debt ceiling and moves by Japan's Central Bank, Sun urged. (By Lin Hui-chung and Hanna Liu)
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