BANDAR SERI BEGAWAN, Oct 26 (Borneo Bulletin/ANN): Brunei’s Centre for Strategic and Policy Studies (CSPS) said the country’s economy grew 2.8 per cent year-on-year (y-o-y) in second quarter (Q2) of this year. The nation’s think tank said this in its October update on Brunei’s economy.
CSPS said growth has been largely supported by the production of petrochemicals. The pandemic has hit travel and tourism hard. Brunei’s air transport and hotel sub-sectors contracted by more than 90 per cent and 50 per cent in Q2 while the restaurants sub-sector contracted by 20 per cent. On the other hand, the telecommunications sub-sector expanded by about three per cent.
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