Macro - Country Economic Forecasts - Brunei

Macro - Country Economic Forecasts - Brunei

We've lowered our 2024 GDP growth forecast for Brunei by 0.5ppts to 3.2% following an underwhelming performance in the oil and gas sector, which contracted by 2% in 2023. However, we anticipate some improvement heading into next year and have therefore maintained our 2025 growth forecast at 2.7% as critical investment projects will gain momentum and trade will pick up through greater export volumes. Additionally, we think long-term growth will be supported by diversification efforts in the non-oil and gas sector.

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