Asia Development Bank Raises Taiwan's GDP Growth Forecast to 3.5%

Reported 3 months ago

Taiwan and South Korea's semiconductor and artificial intelligence (AI) exports have significantly increased, leading the Asia Development Bank (ADB) to slightly raise its economic growth rate forecast for Asian developing countries to 5% and Taiwan's to 3.5% from the previous estimate of 3%. The ADB also slightly raised the economic growth rate forecast for the Asia-Pacific region's 46 economies, citing strong domestic demand and export growth, but warned of downside risks due to upcoming elections and geopolitical tensions. The ADB maintained its economic growth rate forecast for Asian developing countries next year at 4.9% while mentioning uncertainties related to elections in major economies like the United States and challenges posed by conflicts in the Middle East and Ukraine.

Source: YAHOO

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