Asia Economy

Structural reforms coupled with solid macroeconomic fundamentals saw Indonesia continue its positive growth trajectory in 2016.

A combination of tighter fiscal planning, a gradual increase in hydrocarbons prices and an improved performance by some non-oil sectors saw Brunei Darussalam shake off two years of contraction and lay the foundations for stronger growth in 2017.

Strong domestic demand and record high foreign investment inflows underpinned the continued rapid growth of the Vietnamese economy in 2016. 

In a year marked by a return to full civilian rule, Myanmar’s economy continued to expand strongly, though some sectors saw slower growth as reduced foreign investment and a weaker currency eroded some gains.

Underpinned by solid growth and boosted by medium-term fiscal support, the Sri Lankan economy rode out a difficult year in 2016, though government measures to curb spending and boost revenue may impact investment and expansion in the coming year.

Lower returns from the extraction and agriculture sectors and a global fall in commodity prices combined to curb Papua New Guinea’s economic growth in 2016, though prospects for a modest rebound this year are firming up.