The Report: Brunei Darussalam 2014

The Report: Brunei Darussalam 2014
Author: Oxford Business Group
Publisher: Oxford Business Group
Total Pages: 212
Release: 2014-12-04
Genre: Agriculture
ISBN: 1910068152

Following its successful chairmanship of ASEAN in 2013, Brunei Darussalam will look to continue its role as a regional leader in areas ranging from defence to commerce. The increased focus on diversification and the growth of several industries bode well for the economy, and the coming years are expected to see Brunei Darussalam further bolster its position within ASEAN and the international economy. Commanding the second-highest GDP per capita among all ASEAN member nations at $39,700 in 2013, Brunei Darussalam remains one of the most advanced economies in the South-east Asia region. Historically, the hydrocarbons industry has dominated the Bruneian economy and allowed the country to amass considerable wealth. However, the nation is making an earnest effort to diversify its economy to ensure future economic stability and sustainability. Thanks in large part to the efforts of the Brunei Economic Development Board, the nation has successfully brought in several major international investments in recent years, including a multi-purpose defence and aviation training centre. The Sultanate is also targeting growth in bio-industry through investments in research and development, as well as expanding the global reach of its halal food industry.

Country Report

Country Report
Author: Mohd. Zaini Haji Bagul
Publisher:
Total Pages: 0
Release: 1993
Genre: Archives
ISBN:

Brunei Darussalam: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Brunei Darussalam

Brunei Darussalam: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Brunei Darussalam
Author: International Monetary
Publisher: International Monetary Fund
Total Pages: 73
Release: 2021-09-20
Genre: Business & Economics
ISBN: 1513597108

Brunei’s economic performance—which was strong before the COVID-19 pandemic—has been buffeted by the health crisis and a pandemic-induced oil and gas price shock. The authorities responded fast and decisively. The number of new infections was quickly suppressed, thanks to a swift public health response, effective health measures and non-pharmaceutical interventions. Strong fiscal and regulatory policy responses helped sustain production and household income and consumption. Past diversification efforts and reforms bore fruit when it was most needed. As a result, the economy performed strongly in 2020, with real GDP posting positive growth of 1.1 percent—a rare outcome amidst negative growth in the region. Economic activity is projected to strengthen in 2021-22, albeit at varying speeds across sectors, and to continue improving over the medium term on the back of further diversification. The outlook is, however, subject to unusual uncertainty, with significant risks skewed to the downside. Sustained strong policy actions are needed to ensure continued resilience, while nurturing green, digital and inclusive growth.

Report

Report
Author:
Publisher:
Total Pages:
Release: 2016
Genre:
ISBN: 9781910068601

Brunei Darussalam

Brunei Darussalam
Author: International Monetary Fund. Asia and Pacific Dept
Publisher: International Monetary Fund
Total Pages: 54
Release: 2019-10-10
Genre: Business & Economics
ISBN: 1513516612

This 2019 Article IV Consultation highlights that Brunei’s economy has been adjusting to declining oil production since 2010 and lower oil and gas (O&G) prices since 2014, with the authorities undertaking wide-ranging reforms. Growth is expected to pick up in 2019 to 1.8 percent, with the outlook improving further over the medium term, driven by stronger O&G activities from asset rejuvenation and large foreign direct investment projects. The authorities have made substantial progress in fiscal consolidation, improving the business climate, and developing the financial sector. The fiscal consolidation initiatives include corporatization and privatization, public-private partnership, evaluation of subsidies against targets, fiscal management enhancement, revenue diversification, and amalgamation of the government’s asset management system. The IMF staff supports the authorities’ initiatives to develop the financial sector, while safeguarding financial stability and integrity. The initiatives include steps to broaden the investor base, establish a secondary bond market, develop the required infrastructure and rules for establishing a stock exchange, and put all the three pillars of Basel II in place.