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BANDAR SERI BEGAWAN, Oct. 5 (Xinhua) -- Brunei's GDP is projected to grow 3.9 percent in 2017, the International Monetary Fund (IMF) said in its latest World Economic Outlook.
The World Economic Outlook, October 2016 projected that Brunei's real GDP growth in terms of annual percentage change in 2016 will be at 0.4 percent and rise to 3.9 percent in 2017. The report also projected Brunei's real GDP growth to be at 13.2 percent in 2021.
The new projections published on Tuesday are a marked improvement from forecasts of negative 2 percent in 2016 and a growth of 3.0 percent in 2017, made as part of the report's Regional Outlook update in May.
The Brunei government is implementing measures to adjust to lower oil prices, raise productivity, enhance efficiency, and promote economic diversification, among others.
"Ongoing reforms have been reflected in recent improvements in business environment indicators. In addition, Brunei continues to use its participation in recent international trade agreements to widen market access and transform the domestic economy by raising competitiveness and making the business climate more predictable and transparent in order to attract new investment," said the IMF. Enditem
