COVID-19: India’s virus surge could slow global recovery: DBS
By Kao Shih-ching / Staff reporter
A surge in COVID-19 cases in India is expected to slow a global economic recovery, DBS Bank Ltd (星展銀行) said yesterday, while maintaining its GDP growth forecast for Taiwan at 5 percent this year.
Taiwan reported stronger-than-expected 8.16 percent growth in GDP in the first quarter, beating the Singaporean bank’s 6.1 percent prediction from late March.
“If we judge solely by first-quarter economic growth, we can expect Taiwan’s whole-year GDP growth to climb to a range from between 6 to 7 percent,” Singapore-based DBS economist Ma Tieying (馬鐵英) said in a statement.