The International Monetary Fund (IMF) has upgraded its prediction for Taiwan’s economic growth rate in 2014.
In its latest World Economic Outlook report released on Tuesday, the IMF raised its prediction for Taiwan’s economic growth rate to 3.5%. That’s an increase of 0.4 percentage points. This puts Taiwan’s predicted economic growth rate ahead of the global rate of 3.3% forecast for this year.
The report predicts that Taiwan’s economic growth rate this year will be the second highest among the four “Asian Tiger” economies. Only South Korea’s predicted 3.7% growth rate will be higher.
Meanwhile, the IMF has downgraded its forecast for global economic growth, both for this year and 2015. The World Economic Outlook report cut the predicted global growth rate this year by a tenth of a percentage point to 3.3%. The IMF cut its predictions for next year’s growth rate by two-tenths of a percentage point to 3.8%.