Projected GDP Growth (2023):
Projected Inflation Rate (2023):
Updated as of July 2023
China: Transitioning from Pandemic-Induced Downturn to Sustained High-Quality GrowthEconomic activities in Brunei Darussalam have picked up since mid-2022. Thanks to high vaccination rates, daily new cases of COVID-19 have declined sharply since April 2022, enabling containment measures and border restrictions to be lifted.
China: Sustaining Recovery and Pursuing High-Quality GrowthChina has strong economic foundations to pursue and achieve high-quality growth. The country’s recovery from the 2020 downturn has stayed intact despite the slowdown in H2 2021 and H1 2022 due to COVID-19 outbreaks, headwinds in the property sector, and supply side disruptions. Against the backdrop of a resilient labor market, well-contained inflation pressures, strong external position and sound banking system, China’s economic recovery should regain momentum in H2 2022, with growth for the year coming in at about 4.8 percent.