The International Monetary Fund (IMF) forecasts the Sultanate’s gross domestic product (GDP) growth at 1.2 per cent this year (2022), 3.3 per cent next year (2023) and 3.2 per cent in 2024. This was according to its Regional Economic Outlook: Asia and the Pacific October 2022: Sailing into Headwinds, published on Thursday.
Higher fuel prices bring benefits to commodity exporters such as Brunei Darussalam as it has provided a windfall from higher export, revenue and bolstered private consumption.
Last month, IMF said for 2022, growth for the Sultanate is projected to rebound to 1.2 per cent, on the back of easing of mobility constraints and a positive term of trade shock due to surges in oil and gas prices.
More details on Weekend’s Borneo Bulletin