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MONDAY, AUGUST 10, 2020 Home 3
Brunei’s GDP to grow 1.6pc in 2020: AMRO
From Page One
Strict containment measures to prevent
the virus from spreading have caused
economies to come to a standstill, leading
to massive increases in unemployment,
disruptions to businesses, and widespread
collapse in domestic demand.
Additionally, bans on international travel
have decimated the region’s all-important
tourism sector. Still, AMRO Chief Economist
Dr Hoe Ee Khor expects a gradual U-shaped
recovery in the ASEAN+3 region, led
by China.
“Regional growth is expected to slow
sharply this year, to zero per cent, from 4.8
per cent in 2019, before rebounding strongly
to six per cent in 2021,” Hoe said.
Hoe said nine of the 14 ASEAN+3members
were expected to contract this year, while
economies projected to record positive
growth rates were China and smaller ASEAN
economies – Brunei Darussalam, Laos,
Myanmar and Vietnam.
AMRO said its growth trajectory was
predicated on the effective containment
of the COVID•19 virus, both regionally
and globally.
It said the resurgence in infec-
tions in some parts of the region had
heightened caution about another
spate of lockdowns, which the ASE•
AN+3 economies can ill-afford, even
though most still have some fiscal and
monetary space to provide support
if needed.
AMRO group head and lead specialist
for —inancial surveillance and acting group
head for regional surveillance Dr Li Lian
Ong said the biggest challenge facing
ASEAN+3 policymakers in the second half
of 2020 would be balancing the trade-
off between easing restrictions to revive
their economies and risking another wave
of infections.
“Managing the exit from the raft of
pandemic policies will be key to regional
—inancial stability,” said Li.
Forty-three local entrepreneurs and farmers
participated in yesterday’s Gerai Hujung
Minggu Pasar Kitani programme, initiated
by the Ministry of Primary Resources and
Tourism’s (MPRT) Department of Agriculture
and Agrifood, with the collaboration of the
Ministry of Culture, Youth and Sports (MYCS)
and the Ministry of Home Affairs (MoHA).
Among the products on sale were
bananas, rambutan, mulberries, salad,
asparagus, petai, chicken, duck and quail
eggs, locally grown robusta and arabica
coffees, fruit juices and pickles.
Minister of Home Affairs Pehin Orang
Kaya Seri Kerna Dato Seri Setia (Dr) Haji
Awang Abu Bakar bin Haji Apong, Minister
of Primary Resources and Tourism Dato Seri
Setia Awang Haji Ali bin Haji Apong and
Minister of Culture, Youth and Sports Major
General (Rtd) Dato Paduka Seri Awang Haji
Aminuddin Ihsan bin Pehin Orang Kaya Saiful
Mulok Dato Seri Paduka Haji Abidin of—icially
launched the programme.
Legislative Council (LegCo) members
Yang Berhormat Pengiran Haji Ali bin Pengiran
Maon, Yang Berhormat Haji Tahamit bin Haji
Nudin and Yang Berhormat Haji Mohaimin bin
Haji Johari @ Jahari, permanent secretaries,
deputy permanent secretaries, of—icers
and staff from the three ministries were
also present.
Gerai Hujung Minggu Pasar Kitani is aimed
at encouraging local farmers to supply high-
quality fresh produce in addition to being a
platform for the promotion of their goods.
The sales activity programme can also
be accessed online through the Ta-Pow!
Spotlight on local produce at weekend market
Syazwani Hj Rosli
application, a joint collaboration between
the MPRT and an application
development company.
One of the vendors, Managing
Director of Sahamada Corporation Sdn
Bhd Mohammad Nur Khalid bin Haji Ilias
told the Bulletin, “ Alhamdulillah, more
people came than expected and our sales
were good.”
He suggested the vendors be given
additional time to sell their wares and
that electricity should be provided for
their convenience.
“The vendors need electrical supply to
power their portable fans but no electricity
was provided. I hope this weekly initiative will
continue,” he said.
Gerai Hujung Minggu Pasar Kitani will be
held every Sunday from 6am to 11am. Local
entrepreneurs and farmers interested in
taking part should contact 2470400.
Minister of Home Affairs Pehin Orang Kaya Seri Kerna Dato Seri Setia (Dr) Haji Awang Abu Bakar bin Haji Apong speaks with a vendor; and Minister of Primary Resources and Tourism Dato Seri
Setia Awang Haji Ali bin Haji Apong and Minister of Culture, Youth and Sports Major General (Rtd) Dato Paduka Seri Awang Haji Aminuddin Ihsan bin Pehin Orang Kaya Saiful Mulok Dato Seri
Paduka Haji Abidin visit a stall selling honey products. PHOTOS: MUIZ MATDANI
A general view of Gerai Hujung Minggu Pasar Kitani that will be held every Sunday from 6am to 11am