TIER raises GDP growth forecast to 5.03% Staff writer, with CNA The Taiwan Institute of Economic Research (TIER, 台灣經濟研究院) yesterday raised its economic growth forecast for the nation to 5.03 percent, citing a global economic recovery, which it said would boost the nation’s exports and domestic demand. That represented an increase of 0.73 percentage points from its forecast in January and is the first to forecast growth of more than 5 percent. The Directorate-General of Budget, Accounting and Statistics in late February forecast that GDP would grow 4.64 percent this year, while the central bank last month projected a 4.53 percent increase. A person cleans a vehicle in Taipei yesterday.