[Finance] Consumption and Traditional Industries Exceed Expectations; Yeh Chun-hsin: "Certainly possible" for this year's economic growth rate to exceed 10%
bella@@ 央廣 新聞2h agoEdited
Yeh Chun-hsin, Minister of the National Development Council, stated in a media interview today (17th) that Taiwan's economic growth momentum this year is not only driven by the booming exports of the Artificial Intelligence (AI) industry, but also by private consumption and traditional industries performing better than expected. With the support of multiple positive factors, "it is certainly possible" for this year's economic growth rate to exceed 10%. #Please listen to reporter Yang Wen-chun's interview report#
The Directorate-General of Budget, Accounting and Statistics (DGBAS) recently revised this year's economic growth rate upward to 9.64%. External attention is focused on whether it can further challenge double-digit growth. In response, Yeh Chun-hsin said in an interview this afternoon, "10% is certainly possible."
Yeh Chun-hsin analyzed that the AI wave will not be limited to data centers and cloud computing fields. Its development speed is faster than initially expected by the market and has gradually expanded to terminal applications, including personal computers (PCs), laptops, and mobile phones. As applications such as self-driving cars and robots mature in the future, the demand for high-performance computing and chips will further increase, continuing to boost Taiwan's industrial growth momentum.
In addition to the technology industry, Yeh Chun-hsin stated that the economic climate of traditional industries has also shown signs of improvement recently. Benefiting from the retroactive effect of the US's non-semiconductor Section 232 tariff relief measures, which took effect from May 1st this year, some auto parts, aerospace, and traditional manufacturing industries have received orders better than initially expected and have advantages compared to their competitors. He said: "(Original sound) At least compared to competing countries, we have a relative advantage, especially for some parts. The biggest competitors are likely China's low-price dumping. That part of China may not necessarily be able to go to the US, but some order transfer effects might come over. Traditional industry operators also feel that the situation is not worse than before, and it is slowly improving."
Regarding the recent upward trend in inflation, Yeh Chun-hsin stated that international oil prices have begun to fall recently. If the situation in the Middle East gradually cools down, inflationary pressures are expected to ease. However, he also believes that with the economy maintaining high growth, a moderate increase in prices is actually a normal phenomenon, and society should gradually adapt to the environment of moderate inflation accompanying economic growth. (Editor: Song Wan-yuan)
Further Reading
Will Taiwan's economic growth rate exceed 10% this year? Minister of Economic Affairs: The opportunity exists
Source Link: https://www.rti.org.tw/news?uid=3&pid=215041
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