Taiwan’s Chung-Hua Institution for Economic Research (CIER) expects the island’s gross domestic product (GDP) to grow by 3.03 percent next year, Xinhua news agency reported Thursday. The CIER, one of the top policy think-tanks in Taiwan, predicted that exports will expand 3.71 percent in 2014, continuing to play a major role in leading the island’s growth, the report said. However, it also pointed out in its annual forecast that the impetus for further economic growth is sluggish, and that Taiwan may face a prolonged period of low growth because of insufficient domestic demand and a slowing of exports and imports. The CIER pegged its projection of Taiwan’s annual growth this year at 1.72 percent, lower than that predicted by the island’s statistics authority.
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