Taiwan announces stimulus steps to boost consumption after poor GDP data

The Taipei 101 building, center, stands among residential and commercial buildings in Taipei, Taiwan, on Monday, Nov 4, 2013. 

PHOTO: BLOOMBERG

OCT 30, 201511:05 AM

[TAIPEI] Taiwan government on Friday announced a stimulus package to help boost domestic consumption, after the island's export-driven economy contracted for the first time in six years in the third quarter.

The cabinet said in a briefing the package could add T$15.4 billion (US$480 million) to GDP, but didn't elaborate on the timeframe.

REUTERS