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Taiwan’s economy is expected to be adversely affected by COVID-19 pandemic in 2020. The growth of real gross domestic product (GDP) of Taiwan is expected to shrink, unemployment level to increase and current account balance to reduce due to COVID-19 this year. As of 28^th July 2020, Taiwan had 467 confirmed COVID-19 cases out of which 440 people have recovered from the disease while 7 have lost their lives.

In this blog post we will be focusing on economic impact of COVID-19 pandemic and fiscal, monetary and employment policy measures by Taiwan government under following sections –

1. Impact of COVID-19 on Taiwan Economy in 2020

2. COVID-19 Containment Measures of Taiwan

3. COVID-19 Related Fiscal Policy Measures by Taiwan

4. COVID-19 Related Monetary Policy Measures by Taiwan

5. COVID-19 Related Employment Policy Measures by Taiwan

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1. Impact of COVID-19 on Taiwan Economy in 2020

Taiwan’s real gross domestic product (GDP) was TWD 17287.244 billion in 2019 and due to COVID-19 outbreak it is estimated to decrease by 4.031% to be around TWD 16590.395 billion in 2020.

Taiwan’s unemployment rate was 3.8% of total labor...