Taiwan Cuts 2022 GDP Forecast Again as Global Economy Slows

(Bloomberg) — Taiwan cut its 2022 growth forecast for the third time this year as the global demand slowdown and rising geopolitical tensions with China prove tough to navigate.

Gross domestic product is likely to grow 3.06% for the year, the cabinet’s statistics department said Tuesday in a statement. That’s lower than the last formal estimate of 3.76% in August. The official 2023 GDP forecast was downgraded to 2.75% from 3.05%.