Taiwan is scheduled to publish economic data on Friday (May 26), which will reflect the severity of economic recession.Bloomberg reports that the continuous rise in inflation and the continuous deterioration economic situation may become a key issue for the 2024 presidential election.
Reports pointed out that the General Planning Office of Taiwan will announce economic data such as GDP (GDP) and the annual consumer price index (CPI) expectations of the first four months of this year.This will reflect whether Taiwan ’s GDP in the first quarter of the first quarter (GDP) is worse than the valuation, and the Tsai Ing -wen government may also have to reduce the annual economic growth expectations for the second year.
The Taiwan government expects in February this year that Taiwan will record a 2.1%economic growth throughout this year.However, since 2022, the Taiwan economy has been trapped in the dilemma of external demand and high inflation.The Taiwan government announced in April that the first three months of this year's GDP fell 3.02%year -on -year, the largest decline in the global financial crisis in 2008.
Taiwan will hold the presidential election in January next year.Due to the rise in inflation and interest rates, the economic slowdown, the people's dissatisfaction heating up, and the inflation problem may become a key battlefield for votes.
Sun Mingde, director of the Taiwan Institute of Economic Research Institute, believes that what the government can do is to suppress the price and focus on the unemployment rate and price control.
He said that although Taiwan's inflation is milder than other Asian countries and regions, the people will not go to international comparisons, they will only compare with past experience.He believes that the government should take the initiative to promote policies to reduce inflation.
