In an interview at the legislature on Monday, Economic Minister Wang Mei-hua (王美花) said that the economy is expected to gradually improve in the third and fourth quarters.
Taiwan's economy showed signs of improvement in September, with the government's monthly economic indicator going from “sluggish” to “transitioning.” This is still far from stable, but marks the end of a 10-month streak of poor growth.
In response to comments by the Directorate General of Budget, Accounting and Statistics, Comptroller Chu Tse-min (朱澤民) replies that Taiwan's GDP growth is unlikely to reach 2% this year. Wang says that the global economy is also struggling due to factors such as the ongoing Russia-Ukraine war, the recent Israel-Palestinian conflict, and high inflation.
However, Wang points out that Taiwan's industries still have competitive advantages in terms of innovation, efficiency, and cost, and the economy is expected to grow steadily into 2024.