It says the growth is dependent on local demand, exports and tourism?

Well, I doubt there will huge growth in tourism in Brunei. And if the RM stays weak, local demand will be satisfied from across the border. Which leaves export. O&G production is down, and Total just got sold, so I guess we will have to see what Heng Yi is doing, and whether they can get O&G production up. Somehow I seriously doubt it.

This type of news just baffles me. Where are they getting their statistics? Because retail is just doing worse and worse and it’s not getting any better.

Lies. Upon lies. On top of lies. More lies.

Say it enough, becomes the truth?

Delusional.

Favourable export prospects? When we don't produce enough quantity for export demands? Aside from o&g what exports they referring to? Food production? Food products? There isn't much production that could fill up 5-15 tonnes per week or every 2 weeks and they say Favourable export prospects? Nice one..

We can export Islamic scholars !

AMRO revises Brunei’s growth forecast to 4pc

^(July 17, 2024)

The ASEAN+3 Macroeconomic Research Office (AMRO) revised Brunei’s Darussalam economic growth forecast to four per cent, from the previous projection of 2.7 per cent.

AMRO kept its 2024–25 growth forecasts for the ASEAN+3 region broadly unchanged at 4.4 per cent and 4.3 per cent, following its latest quarterly update on the ASEAN+3 Regional Economic Outlook (AREO) published yesterday.

Favourable export prospects should boost the region’s growth momentum, alongside firm domestic demand and the continued recovery in tourism.

The ASEAN+3 region is expected to grow at a steady pace of 4.4 per cent this year, compared with the forecast of 4.5 per cent in April 2024.

Domestic demand will be bolstered by strong employment conditions and stable prices, while exports growth is expected to return to positive territory on improving global demand.

The growth in ASEAN is forecast to improve from 4.2 per cent in 2023 to 4.8 per cent this year, while the overall growth for the Plus-3 economies (China; Hong Kong, China; Japan; and Korea) is projected to remain stable at 4.4 per cent.

AMRO expects the ASEAN+3 growth to ease slightly to 4.3 per cent in 2025, as the regional economies converge to their trend growth.

“The overall balance of risks to the region’s outlook has improved since April,” said AMRO Chief Economist Hoe Ee Khor.

“Real estate aside, China’s economy continues to grow robustly. Tourism has rebounded close to pre-pandemic levels for most economies in the region, and the global semiconductor recovery is broadening to benefit more economies and sectors in ASEAN+3.”

The inflation in ASEAN+3 region – excluding Laos and Myanmar – is forecast to moderate to 2.1 per cent in 2024, lower than the April forecast of 2.5 per cent. However, the downside risks to inflation remain, especially if geopolitical tensions worsen and trigger spikes in global commodity and shipping prices.

United States (US) related risk factors have become more salient. Higher-for-longer interest rate expectations in the US have weighed on many of the region’s currencies.

ASEAN+3 asset markets could also see higher volatility in the run-up to the November presidential election, especially if the election campaign leads to a further escalation in US-China trade tensions.

“The bad news is that the region’s outlook next year could be significantly affected by the outcome of the US elections. The good news is, the region has weathered similar shocks before,” Khor said. “Our economies need to keep rebuilding policy space and pursue policies to enhance resilience to shocks.”

The next update will be released in October. – Azlan Othman

^([ )

^(Give feedback)

^(Code)

^(Changelog)