Taiwan’s economy could still see 2% annual growth if the government passes a special budget to alleviate the impact of the COVID-19 outbreak. That was the word from statistics office director Chu Tzer-ming on Wednesday.
During a briefing at the Legislature on Wednesday, Chu spoke about the outbreak’s impact on Taiwan’s economy. He said many sectors of the economy have been hit by tourism bans and slumping demand from China. However, Chu said that Taiwan’s domestic market has adapted to the situation quickly, and momentum in domestic consumption has remained steady.
Chu said that if the NT$60 billion (US$2 billion) special relief budget could help maintain economic growth.