Virus Outbreak: Pandemic could cut GDP growth by 1.4%: minister - News Summed Up

Virus Outbreak: Pandemic could cut GDP growth by 1.4%: minister


Virus Outbreak: Pandemic could cut GDP growth by 1.4%: ministerBy Crystal Hsu / Staff reporterThe COVID-19 pandemic might weigh on the nation’s economy through the second quarter and erase up to 1.4 percentage points from GDP growth this year in the worst-case scenario, National Development Council Minister Chen Mei-ling (陳美伶) said yesterday. The government would seek to retain GDP growth of more than 2 percent by introducing relief funds and stimulus measures that could be stepped up if necessary, she said. National Development Council Minister Chen Mei-ling speaks at a meeting of the Legislative Yuan’s Economics Committee in Taipei yesterday. Photo: Chien Jung-fong, Taipei TimesDisruptions caused by the coronavirus on global economic activity would dent Taiwan’s GDP growth by 0.66 percentage points this year, if the world can contain the disease by June, she said. A protracted outbreak could reduce GDP growth by 1.4 percentage points in the worst-case scenario, in which tourist arrivals would continue to dwindle and export orders dry up, she added.


Source: Taipei Times March 26, 2020 15:56 UTC



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