'brunei economy' Stories

Record-low oil output drags Brunei economy deeper into recession The sultanate posts largest quarterly GDP contraction in six years

October 24, 2022

BANDAR SERI BEGAWAN – Brunei is still struggling to get out of a deep recession after record-low oil production in the second quarter…

Brunei economy likely to see modest gains in 2022: CSPS The sultanate is on track to cut fiscal deficit on the back of high oil prices

October 17, 2022

BANDAR SERI BEGAWAN – The Brunei economy is still expected to stage a modest rebound in 2022 despite a sharp contraction of 4.2…

Brunei must accelerate economic diversification, says HM In a titah to mark his 76th birthday, the monarch said government must devise new economic strategies for a post-pandemic world

July 16, 2022

BANDAR SERI BEGAWAN – Efforts to diversify the economy have boosted growth in the non-oil and gas sector at an average annual rate…

Oman eyes more aquaculture investment in Brunei Three-day dialogue aims to identify more investment, education opportunities

July 6, 2022

BANDAR SERI BEGAWAN – The Oman Brunei Investment Company (OBIC) is exploring more investment opportunities in aquaculture, particularly in salmon farming in Brunei,…

Brunei’s 2021 GDP falls at fastest pace in five years Recession deepens as declining oil and gas output continues to hamper economic recovery

May 29, 2022

BANDAR SERI BEGAWAN – The Brunei economy suffered its biggest contraction in five years, closing out 2021 with a 1.6 percent annual negative…

Development spending down by 42% as another fiscal deficit looms Higher oil and gas revenue eases fiscal deficit in FY 2021/22, but budget shortfall projected to widen in next financial year

February 27, 2022

This story was updated on Feb 28, 2022 to include additional comments from the Second Minister of Finance and Economy. BANDAR SERI BEGAWAN…

Gov’t to reform retirement fund next year, HM announces The Legislative Council reconvenes under strict health guidelines

February 24, 2022

BANDAR SERI BEGAWAN – Brunei will reform its pension scheme next year to boost retirement savings, His Majesty Sultan Haji Hassanal Bolkiah announced at…

Supply shortages to keep inflation high in 2022, says CSPS Food prices continued to rise in 2021, including a 30% jump in the cost of lamb and mutton

January 28, 2022

BANDAR SERI BEGAWAN – Consumers are expected to continue paying high prices for goods and services throughout 2022 as inflation will likely remain…

Budget deficit could ease to 6.9% of GDP in 2022 CSPS predicts improved fiscal position for Brunei due to higher oil and gas revenue

January 27, 2022

BANDAR SERI BEGAWAN – Another budget deficit is looming for the fourth consecutive financial year in 2022/23, but the Centre for Strategic and…

CSPS: Brunei economy projected to grow 3.7% in 2022 Downstream oil and gas sector expected to lead economic recovery as petrochemical products now make up majority of country's exports

January 26, 2022

BANDAR SERI BEGAWAN – The Brunei economy is forecast to bounce back from recession to post a positive growth of 3.7 percent this…

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