With the local economy gradually reviving and with the signing of ECFA, the future is looking brighter than ever. The Academia Sinica has released its forecast on Taiwan's economic growth rate in 2011, which is expected to reach 4.71 percent.

At the year-end of this year, Academia Sinica released an economic forecast of Taiwan next year, with an estimated economic growth of 4.71%, the highest figure among all other economic research institutes.

The prestigious institution indicates that the rapid recovery of economy in Asia and the warmer local economy and local stock market contribute to a substantial increase of GDP this year.

The figure is estimated to be adjusted upward to 10.31%, the highest in 23 years.

Even though, Academia Sinica adds that Taiwan's economy is relatively stable, many factors are looking to influence local economic prospect, including the debt problems of Europe, China's rising monetary policy, the currency policy of the U.S., the influx of hot money and NTD's appreciation against USD.

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