Taipei, July 6 (CNA) President Chen Shui-bian expressed confidence Sunday that Taiwan can realize its 3 percent economic growth target this year, so long as the legislature passes six critical finance-related bills during an upcoming extra session.
Addressing a fraternity club composed mainly of Tainan county natives residing in Taipei City, Chen said the six financial bills, including the statute governing the establishment and management of freeports and an agricultural financial law, are critical to the nation's financial reform and economic recovery. "If they are passed into law, our flagging economy will receive a boost and several stalled banking reforms will take off. Should that be the case, we'll be able to realize our projected goal of posting a 3 percent or even higher economic rate this year, " Chen said optimistically.
Chen said that although the opposition parties tend to paint a bleak picture of the domestic economy, Taiwan has actually outperformed many other countries in terms of economic development.
For instance, he said, Taiwan registered 3.54 percent growth in its gross domestic product (GDP) last year, higher than the United States' 2.24 percent, Hong Kong's 2.3 percent, Singapore's 2.2 percent, Britain's 1.7 percent, Italy's 0.4 percent, Japan's 0.3 percent and Germany's 0.2 percent.
Chen said he cited the figures to remind local people not to be confused by "misleading propaganda" aired by the opposition camp. "All of our countrymen should have confidence in the Democratic Progressive Party administration. Our economic development has been moving forward on a steady track," he claimed.
With the end of the U.S.-led war in Iraq and the World Health Organization's (WHO's) declaration of Taiwan as effectively free of severe acute respiratory syndrome (SARS) , Chen said, the general economic climate has improved. "Since Taiwan's economic fundamentals remain sound and the government has unveiled post-SARS economic stimulus projects worth billions of dollars, our economic development will take great strides once the six crucial financial bills clear the legislature next week," Chen said.
He further said he takes great pleasure in seeing Taiwan lifted from the WHO's list of SARS-affected areas. "This is the result of concerted efforts by the private and public sectors. I want to express my heartfelt appreciation and admiration for our frontline health care providers in the campaign against SARS," he added.