Taiwan lowers forecast for 2022 economic growth

Taiwan's statistics agency has lowered the expectation for the island's economic growth in 2022 to 3.91 per cent, down 0.51 percentage points from the February forecast.

The annual Consumer Price Index for 2022 was anticipated to grow by 2.67 per cent, higher than the 2-percent inflation warning line, said the agency in the latest press release.

The estimate was made based on such uncertainties as COVID-19, global supply chain bottleneck, and the prices of oil and other raw materials, according to the agency.

It added that the island's economy grew by 3.14 per cent in the first quarter of this year, slightly higher than the previous estimation of 3.06 percent. (ANI/Xinhua)

( With inputs from ANI )

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