The report released by the Government Statistics Agency projected the economy of Taiwan to grow by 6.14% in 2011. The forecast for the growth is based on the improving economic conditions worldwide and the country's a milestone trade deal with China.

The economic cooperation framework agreement (ECFA) that the country signed with China is still to get approval from the Parliament, which is likely to be granted.

The forecasted growth is above the average forecast of 4.3% made in the poll of 15 economists in July and is also above the highest projected poll of 6%.

The forecast has been made for assisting the Government to prepare their budget and the robust economic growth projection was divulged by a source of the Finance Ministry to Reuters. No confirmation has been given by the agency yet. The figure was predicted after the end of the first-quarter.

On Thursday, the Government will reveal its second-quarter GDP along with the official projections of 2011 that would be the result of the slow recovery, after facing the economic meltdown and weakening of exports.

Recently, Asustek, a PC manufacturer cut its supply forecast, on account of the wavering US recovery and slower pace of growth in the global recovery. Chimei Innolux and AU Optronics, which are renowned LCD panel makers also, are anticipating less demand. The experts are of the view that such conditions can be counterbalanced by the Taiwan's ECFA deal with China.