The global economy is likely to take a turn for the better in the second half of this year. That’s the word from National Development Council Minister Chen Tain-jy on Monday.
The World Bank has further downgraded its forecast for global GDP growth in a recently-released report. But Chen said the report is mostly about the first half of this year, adding that the economic outlook for the second half of 2016 is promising.
“There is some relatively good news," said Chen. "For example, the Purchasing Manager Index (PMI) of the manufacturing industry is on the rise and above 50."
"There are positive signs," he said. "Mechanical equipment imports last month increased considerably, an indication of subsequent investment. There are some pieces of good news, so don’t be too pessimistic.”
Chen promised to help create a better investment environment in order to bring about the much-needed economic momentum.