National Development Council Minister Woody Duh has said that Taiwan will be able to keep its GDP growth above 1% this year. Duh was speaking at a legislative hearing on Wednesday.
According to the government statistics office, GDP growth this year is expected to be between 1.15% and 1.56%.
As of September, Taiwan’s exports had declined for seven months in a row, while industrial production had dropped for the fourth consecutive month.
Duh said that while the third quarter is not looking good for Taiwan, the economy may improve during the fourth quarter, helping to lower the unemployment rate.