Published Date: 2021-12-10
The Chung-Hua
Institute for Economic Research (CIER) is predicting that Taiwan’s economic
growth for the year will reach 6.05%. It is also forecasting that Taiwan can
expect economic growth of 3.67% next year.
If these
predictions come true, Taiwan will have seen four consecutive years with
economic growth of more than 3%.
CIER has also
released predictions about Taiwan’s Consumer Price Index. It says that
inflation has led companies to pass on costs to consumers, leading to a growing
sense of rising prices. It predicts that the Taiwan Consumer Price Index will
rise by 1.9% this year and 1.77% next year.
Important factors
that will determine how close to the mark these predictions come will be the
price of oil and staple commodities, as well as how well supply chain issues
are resolved.
CIER says that
factors ranging from COVID-19 variants, monetary policy in major economies, and
inflationary pressure to global energy supplies and a slowing down of the
global economy are still variables that could impact Taiwanese businesses in
the coming year.