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Taiwan
's economic growth is forecast to advance steadily, although mildly, in 2007, to
top 4.2 percent for the year, with export trade expected to slow down and
domestic consumption expected to gain momentum, an economist from Academia
Sinica said on December 22.
Taiwan
's gross domestic product (GDP) is expected to grow 4.21 percent for 2007, below
this year's figure of 4.32 percent, as the result of a slight slowing down of
the global economy and brisk domestic growth, including a buoyant real estate
market, said Wu Chung-shu, a researcher with Academia Sinica's
Institute
of
Economics
.
With the "credit card slave" problem subsiding and the real
estate market continuing to flourish in
Taiwan
, domestic consumption is expected to grow 3.18 percent next year, up
significantly from 1.81 percent in 2006.
On the topic of foreign trade, Wu said that due to a relatively higher
comparison base in 2006,
Taiwan
's exports of goods and services are expected to grow by about 5.91 percent in
2007, much slower than this year's 10.42 percent.
Wu forecast that Taiwan's currency will appreciate slightly against the
U.S. dollar next year to reach an average exchange rate of NT$32.16 per dollar,
compared with this year's average of NT$32.53 per dollar.
Meanwhile, Wu forecast that with
Taiwan
's domestic economy levelling off in 2007, the unemployment rate should decline
in 2007. He said that although
Taiwan
's economy is expected to level off in 2007, other factors of uncertainty --
including international oil prices, the development of the
U.S.
real estate market, international terrorism, the development of cross-strait
relations, and the political situation in
Taiwan
-- will have an affect on the country's economic growth rate in 2007.
(Source:
Central News Agency)
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