NDC to pub­lish short-term eco­nomic res­cue plan to­day

The China Post - - LOCAL -

The Na­tional De­vel­op­ment Coun­cil (NDC, ) is sched­uled to present a short-term eco­nomic stim­u­lus plan to­day at the Ex­ec­u­tive Yuan.

In con­trast with a long-term eco­nomic plan, these mea­sures are aimed at cre­at­ing im­me­di­ately re­sults in a slow­ing econ­omy that saw its sixth straight week of ex­ports con­trac­tion in July.

The rapid-ac­tion mea­sures in­clude ex­pand­ing the quota on Chi­nese tourists to 1,000 en­tries a day and tem­po­rar­ily re­lax­ing visa re­quire­ments for tourists from else­where to boost rev­enue, an NDC of­fi­cial told the United Evening News.

The NDC re­ports on the state of the econ­omy to the Ex­ec­u­tive Yuan ev­ery quar­ter.

To­day the NDC is ex­pected to re­port on a pack­age of rapid-ac­tion stim­u­lus mea­sures in re­sponse to the pro­tracted weak­en­ing eco­nomic growth.

Last Fri­day, the Direc­torateGen­eral of Bud­get, Ac­count­ing and Sta­tis­tics (DGBAS,) cut its forecast for GDP growth for 2015 by more than half, from the 3.38 per­cent pro­jected in May to 1.56 per­cent.

The low­ered growth forecast is due mainly to months of dis­ap­point­ing ex­port per­for­mance amid a cool­ing global de­mand and the crowd­ing

of Tai­wan’s ef­fect of China’s red sup­ply chain, ac­cord­ing to the DGBAS.

Ear­lier this sum­mer, the Ex­ec­u­tive Yuan out­lined an eco­nomic res­cue plan for Tai­wan that tar­gets in­dus­trial up­grades, ex­port ex­pan­sion and in­vest­ment pro­mo­tion.

To­day the NDC will present a list of mea­sures from the Ex­ec­u­tive Yuan’s eco­nomic res­cue plan that can be im­ple­mented within one year.

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