IMF revises Taiwan's growth forecast to 3.3% this year, inflation 3.1% far below global
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Loading... - Putri Rahman
- 12 Oct 2022
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The International Monetary Fund (IMF) estimated in the 2022 World Economic Outlook Autumn Report that Taiwan's economic growth rate this year is expected to reach 3.3%, a slight upward revision of 0.1 points from the April spring report. 2.8% next year. Inflation is forecast at 3.1% this year, well below the global rate.
The International Monetary Fund announced today its World Economic Outlook (World Economic Outlook) autumn report that the global economy is experiencing a series of turbulent challenges. Inflation at multi-decade highs, tighter financial conditions in most regions, Russia’s invasion of Ukraine, and the lingering COVID-19 (COVID-19) pandemic have all weighed heavily on the economic outlook.
The IMF forecasts global economic growth to be revised down from 6.0% in 2021 to 3.2% in 2022 and 2.7% in 2023. As for inflation, the report estimates that the global inflation rate will rise from 4.7% in 2021 to 8.8% in 2022, and is expected to decline to 6.5% in 2023 and 4.1% in 2024.
In the Taiwan section, the report estimates that Taiwan's economic growth rates for this year and next year will be 3.3% and 2.8%, respectively. Compared with April, this year's economic growth rate will be slightly revised up by 0.1 percentage points, and next year, it will be slightly down by 0.1 percentage points.
In terms of inflation, Taiwan's inflation pressure is significantly lower than that of the world. The estimated inflation rates in 2022 and 2023 are 3.1% and 2.2%, respectively. As for the unemployment rate, Taiwan is expected to remain flat at 3.6% this year and next. Read More…
