TIER bumps its growth forecast to 4.05 percentBy Chen Cheng-hui / Staff reporterThe Taiwan Institute of Economic Research (TIER, 台灣經濟研究院) yesterday raised its economic growth forecast for this year to 4.05 percent, up from the 2.6 percent estimate it made in November last year, citing a better-than-expected outlook for net external demand, domestic investment and private consumption. Exports are expected to grow 7.22 percent and imports are projected to increase 6.82 percent this year, up from previous estimates of 3.08 percent and 2.84 percent growth respectively, TIER said. Photo: Ann Wang, ReutersPrivate consumption is expected to increase 2.5 percent, up from a previous estimate of 2 percent, it said. Conversely, 18.4 percent of firms foresee a deteriorating economic outlook, down 6.8 percentage points from the 25.2 percent reported one month earlier, TIER said. However, the government’s new soil disposal regulations create challenges in disposal channels and execution, potentially affecting project progress, TIER said.
