Brunei GDP to grow 2.5 per cent this year, 3 per cent in 2022

BANDAR SERI BEGAWAN (Borneo Bulletin/ANN): Brunei Darussalam’s economy is expected to strengthen in 2021 and 2022 on an improving external environment with a gross domestic product (GDP) growth of 2.5 per cent this year and three per cent next year, according to the Asia Development Bank (ADB) flagship economic publication, Asian Development Outlook (ADO) 2021, released recently.

Growth in 2021 will be supported by a recovery in global demand and higher oil and gas prices, which will boost government revenue and support government consumption. Private consumption is expected to grow as the economy continues to strengthen.