Word: forecasts
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...special session last December to avert an estimated 1983 shortfall of $452 million. The result: a $1.8 billion tax hike, the largest in Indiana history, and painful delays in state payments for schools, universities and local subsidies. The state finished the fiscal year $60.4 million in the black, with forecast surpluses of $96.1 million in 1984 and $126.9 million...
Yoshino, that many families have "no more big items to buy for the moment." The government announced a proposal last month to spur the economy with a $5 billion tax cut and $8.1 billion in new public works spending. Yoshino forecast that these measures might help lift Japan's growth rate...
ASEAN. The TIME board forecast that growth rates in all five countries of the Association of South East Asian Nations will increase next year by about ½ to 1½ percentage points. High-flying Singapore, with its fast-growing electronics and financial-services industries, will lead the way. Said Board Member Pang Eng Fong of the National University of Singapore: "We feel like a water skier being pulled by a speedboat. We dare...
Taiwan. The engines of economic expansion are humming again in Taiwan. Growth is running at a 6% rate this year, up from 3.9% in 1982. Board Member Chen forecast that Taiwan could maintain the 6% pace through 1984 and hold unemployment to a low level...
These tremors notwithstanding, Hong Kong's export industries are so strong that the colony has been able to reach a 6% growth rate. Chen forecast that expansion will slow to perhaps 4.5% next year. The weakness of Hong Kong's currency in the international exchange markets has fanned the inflation rate, which is now 12.5% and will remain at least 10%, Chen said, through...