Taiwan will announce stimulus measures this week after the country was forced to lower its growth forecast for 2013, Bloomberg reported. Taiwan’s GDP is projected to grow at 2.4% this year, down from an earlier estimate of 3.59%. A spokeswoman for Taiwan’s cabinet said the proposed stimulus plan would include various measures to boost domestic consumption and encourage stock market growth. Taiwan’s President Ma Ying-jeou said he is seeking closer ties with China to assist in economic growth including the signing of a service-trade agreement. The Taiwan dollar closed 0.2% higher against the US dollar at NT$29.971 on Monday, having slipped almost 3% this year.
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