Taiwan Raises Growth Forecast to 11.05 Percent for 2021, Highest in 39 Years

Lai made the announcement after being briefed on the Executive Yuan's proposed central government budget for next year for the second time. He said the government would maintain a balanced budget with no net increase in debt after incorporating the universal cash handout into the general budget. The latest statistics from the Directorate-General of Budget, Accounting and Statistics show Taiwan's economy performing more strongly than previously forecast, Lai said.

First-quarter growth was revised up to 15.43 percent, while preliminary data put second-quarter growth at 12.93 percent, marking three consecutive quarters of double-digit growth. Economic growth reached 14.15 percent in the first half of the year, the strongest performance for the same period in five decades. The full-year economic growth forecast has been raised from 9.64 percent to 11.05 percent, which would be the highest in 39 years, he added.