Taiwan Cuts 2023 Growth Outlook on Trade, Inflation Pressures

Taiwan cut its forecast for growth this year as weak exports continue to drag on the economy, while inflation is likely to pick up more than expected, potentially injecting uncertainty into the central bank’s monetary policy strategy.

Gross domestic product is likely to grow 2.12% in 2023 from a year prior, Taiwan’s Directorate General of Budget, Accounting and Statistics said Wednesday. That compares to the department’s most recent estimate of 2.75%, given in November.