Taiwan ’s economy has fallen into a downturn in the low demand and high inflation this year. Yang Jinlong, president of the Taiwan Central Bank, predicts that the slowest economic prosperity in Taiwan will not rebound until the fourth quarter.
Comprehensive Taiwan Lianhe Daily and Zhongshi News reported that Yang Jinlong made the above predictions on Wednesday (May 24) on the financial committee of the Legislative Yuan.
He said when the Taiwan economy rebounded, the key lies in the adjustment of inventory.He predicts that Taiwan's manufacturing inventory will gradually digest in the third quarter, and the economy will rebound in the fourth quarter.Conversely, if the export is not good and the imports are not good, the investment will not be good, which will affect the economy.If the inventory cannot be adjusted in the second quarter, it will be deferred to the third season, but at least the fourth season will rebound.
In response to the pressure of Taiwan, Yang Jinlong said that Taiwan has controlled the CPI of the consumption index compared to other economies.However, he also admits that the price of food is still rising, and after Taiwan ’s open overseas tourism, the price of entertainment services has continued to rise.
As for whether the central bank of Taiwan will raise interest rates again, Yang Jinlong said that the central bank's supervisors and supervisors will be held in June, depending on whether the current inflation and economic situation evaluation will be raised.
Although Taiwan's GDP achieved a growth rate of 2.43%last year, under the influence of rising inflation and low external demand, the growth trend is no longer.The first quarter of this year's GDP fell into negative growth, from a negative 0.41%annual growth rate of 0.41%in the fourth quarter of last year to a negative 3.02%.The Ministry of Finance of Taiwan announced that the export of exports in April this year was 13.3%, which has recorded negative growth in the eighth consecutive month since September last year.
