Brunei Darussalam: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Brunei Darussalam

October 6, 2023

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Format: Chicago

Brunei Darussalam: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Brunei Darussalam, (USA: International Monetary Fund, 2023) accessed November 21, 2024

Summary

Context and Recent Developments. Brunei’s high vaccination rates have allowed for the removal of COVID-19 restrictions and reopening of borders; however, reduced oil and gas (O&G) production have undermined the recovery. The financial sector remains liquid and well-capitalized. High fuel prices helped strengthen the fiscal and external positions in 2022. Inflation hit a historical high but has recently declined. The 2023 Article IV consultation took place in the context of a volatile O&G market, and a difficult external environment. Key policy challenges include the narrowing fiscal space, the need to shield the economy against O&G price and output volatility, global decarbonization pressures, and ensuring inter-generational equity. The government is committed to diversifying towards a low-carbon economy.

Subject: Economic and financial statistics, Expenditure, External sector statistics, Fiscal policy, Government finance statistics, International organization, Monetary policy

Keywords: Authorities' effort, Brunei Darussalam's authorities, External sector statistics, Global, Government finance statistics, Government of Brunei, Revenue diversification, Sector production

Publication Details

Pages:

53
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2023/346
Stock No:

1BRNEA2023001
ISBN:

9798400255762
ISSN:

1934-7685

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