On Dec. 18 last year, the Asian Development Bank estimated Taiwan’s GDP growth rate for last year at 3.6 percent, 0.14 percent higher than the Chung-Hua Institution for Economic Research’s October estimate of 3.46 percent. The Directorate-General of Budget, Accounting and Statistics’ (DGBAS) figure, to be released soon, is likely to fall somewhere between these two.
Most notable last year was that growth forecasts from a range of organizations continued to rise following the Sunflower movement in March and April. Had it not been for food safety scandals associated with the Ting Hsin International Group (頂新國際集團), the economic performance would likely have been even better.
