[Finance] Taiwan's economic growth rate to exceed 10% this year? Minister of Economic Affairs: The opportunity exists

During a question and answer session at the Legislative Yuan's Economic Committee today (17th), Democratic Progressive Party legislator Lai Rui-ling inquired whether Taiwan's economic growth rate could reach 10% as predicted by financial institutions. In response, Minister of Economic Affairs Kung Ming-hsin stated that the Directorate-General of Budget, Accounting and Statistics (DGBAS) had recently revised its economic growth forecast for this year up to 9.64%, and the opportunity to exceed 10% exists. Kung Ming-hsin pointed out that the continued vigorous development of the AI and semiconductor industries is a significant driving force supporting economic growth. Meanwhile, other industries are also performing better than last year. For example, the machinery industry has shown outstanding export performance, with export growth reaching double digits in the first five months of this year, exceeding initial expectations and reflecting the continuous improvement of Taiwan's overall industrial competitiveness. He mentioned that the opportunity for the economic growth rate to exceed 10% this year exists. He said: "(Original sound) I think the DGBAS has already revised its forecast to around 9.64%. Based on this trend, I believe these financial institutions also have a basis for such projections, so the opportunity exists." Regarding whether the stock market index will reach 50,000 points in the future, Kung Ming-hsin stated that the Ministry of Economic Affairs is not in a position to comment on the stock market index trends. However, he added that the stock market ultimately reflects fundamentals, and Taiwan's current economic fundamentals are sound. Whether looking at stock market performance or economic growth rates, the market generally holds a positive outlook. Concerning traditional industries, Kung Ming-hsin mentioned that in addition to the NT$46 billion in related special budgets, the Executive Yuan allocates over NT$10 billion annually for small, medium, and micro-enterprises. This year, President Lai Ching-te also proposed a NT$100 billion "Accelerated Revitalization Plan for Small, Medium, Micro, and Traditional Industries" to help these businesses seize the economic growth opportunities and allow the industry to tangibly feel the benefits of economic growth. Regarding the impact of the Middle East situation on energy supply, Kung Ming-hsin stated that domestic oil and gas supply is currently safe and secure, with sufficient inventory to meet demand. Supply conditions will not be an issue before the end of this year. He also mentioned that a partial agreement has been reached between the United States and Iran, leading to a downward trend in international oil prices. Domestic oil prices will appropriately reflect changes in international oil prices in the future.