Brunei Darussalam: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Brunei Darussalam
Electronic Access:
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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.
Series:
Country Report No. 2023/346
Subject:
Economic and financial statistics Expenditure External sector statistics Fiscal policy Government finance statistics International organization Monetary policy
Frequency:
regular
English
Publication Date:
October 6, 2023
ISBN/ISSN:
9798400255762/1934-7685
Stock No:
1BRNEA2023001
Format:
Paper
Pages:
53
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