November 16, 2004
The Council for Economic Planning and Development, citing lower international oil prices and stable core commodity prices next year, has released a forecast of 5% for Taiwan's economic growth rate in 2005.
The Council, however, points to the existence of five uncertainties hanging over Taiwan's potential for economic growth: structural unemployment, resource consumption and environmental pollution, natural disasters and contagious diseases, economic and trade relations between Taiwan and China, and international oil prices.
The CEPD's economic growth prediction for 2005 is currently the highest among both domestic and overseas forecasts. Taiwan's Directorate-General of Budget, Accounting and Statistics sees growth of 4.49% and the Chung-Hua Institution for Economic Research expects 4.44%, while the International Monetary Fund has set its forecast at 4.1%.
The Council says that the predictions of these other organizations are lower because they have yet to calculate in the economic contributions of the Ten New Major Construction Projects.
The Council also expects per capita
GDP in Taiwan to reach
USD 14,059 in 2005.
(United Daily News)
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