Bandar Seri Begawan: In relation to the economy, His Majesty in the titah says the country's efforts towards economic diversification have shown an encouraging outcome. The Gross Domestic Product (GDP) contribution for the non-oil and gas sector has shown clear progress in terms of average growth throughout the period of 2017 to 2023 which is 4.3 percent a year.
According to Radio Television Brunei, this development highlights the country's strategic focus on diversifying its economy away from traditional oil and gas dependency. The growth in the non-oil and gas sector signifies a positive shift and a promising future for the nation's economic landscape.
The consistent annual growth rate of 4.3 percent in the non-oil and gas sector underscores the effectiveness of the policies implemented over the years. As the country continues to prioritize diversification, it aims to sustain this growth trajectory, contributing further to economic stability and resilience.