While the nation's projected growth in gross domestic product for 2013 has been revised downward to 1.74 percent, a rebound is expected in the coming year as the world's industrialized economies recover, Premier Jiang Yi-huah said today after a briefing by the Council for Economic Planning and Development.
While Taiwan's exports and domestic demand were relatively weak this year, industrialized countries' economies are expected to pick up from this quarter onward, and international forecasting agencies all predict that the global economy will strongly rebound in 2014, the premier said. This, together with the implementation of the free trade agreements signed with New Zealand and Singapore this year, should bring Taiwan greater benefits from foreign trade and progressively lift up the domestic economy, he assured.
The Executive Yuan's financial and economic ministers reported on their agencies' past and future major development policies at a meeting at the Presidential Office last night, showing President Ma Ying-jeou's high degree of concern about the economy, Jiang said.
Jiang instructed agencies to make an all-out effort to implement the Economic Power-up Plan, accelerate the signature of trade agreements with other countries, and promote Free Economic Pilot Zones in order to take advantage of the opportunity presented by the imminent recovery of international trade and expedite the adjustment of Taiwan's economic structure. This would boost exports, drive investment, revive the domestic economy and consolidate momentum for growth, he stated.
The conclusion of the current legislative session is imminent, and before it takes place the premier will convene a discussion with economic and financial agency leaders. He asked relevant Cabinet members to brainstorm and draw up their major economic and industrial development policies for 2014 in advance after hearing the views of private industries, scholars and experts.