June 2, 2020 / 5:51 AM / a month ago

Taiwan says planned stimulus coupons could boost consumer spending by $3 bln

TAIPEI, June 2 (Reuters) - Taiwan said on Tuesday that planned “stimulus coupons” for its coronavirus-hit economy could boost consumer spending by T$100 billion ($3.3 billion) this year.

In its latest move to spur the trade-reliant economy, Taiwan’s cabinet announced a budget of nearly T$50 billion for the coupons, part of a stimulus package worth T$1.05 trillion.

Taiwan’s economy is likely to grow 1.67% this year, its slowest growth in five years, as the pandemic hits the island’s services sector and tourism. ($1 = 29.9250 Taiwan dollars) (Reporting by Yimou Lee and Roger Tung; Editing by Edwina Gibbs)

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