TAIWAN

Taipei Forecasts Growth of 6.6% for 1993: Taiwan, one of the world’s fastest-growing economies, lifted its forecast for economic growth this year to 6.6% but announced a lower-than-expected performance for all of 1992. Taiwan’s gross national product, a measure of the value of goods and services produced, will increase 6.6% to $225 billion in 1993, 0.8% more than expected three months ago, the Cabinet’s statistics office said. The higher forecast for 1993 by the Directorate General of Budget, Accounting and Statistics brings the government’s prediction more closely in line with the 6.8% to 7.0% growth seen by many private analysts. Chan Te-sung, director of the DGBAS, said growth will pick up on a business recovery in the United States, increased private investment at home and higher spending associated with the government’s $303-billion Six-Year National Development Plan, now in its second year.