'brunei economy' Stories

Brunei economy contracts 1.4% for second straight quarter Oil and gas sector continues downward spiral in first quarter of 2021 but services sector rebounds after a year of negative growth

July 21, 2021

BANDAR SERI BEGAWAN – Revenue losses in the oil and gas industry continued to hurt the Brunei economy in the first quarter of…

Rising food prices have no major impact on the poor so far, says CSPS Brunei's inflation jumps to highest rate in 12 years as COVID-19 supply disruptions push up cost of consumer goods

May 17, 2021

BANDAR SERI BEGAWAN – The rising cost of goods and services has not had a significant impact on poor households over the past…

CSPS: Domestic tourism gains momentum amid border closures The think tank says uncertainty still looms over the recovery of international travel

May 13, 2021

BANDAR SERI BEGAWAN – Domestic tourism demand has picked up as border closures have prompted increased local spending but the recovery of international…

LegCo passes budget of $5.86 billion for FY 2021/22 Low oil prices and the impact of the pandemic continue to weigh heavily on gov't fiscal position

March 26, 2021

BANDAR SERI BEGAWAN – The Legislative Council (LegCo) has approved a government budget of $5.86 billion for the 2021/2022 financial year after 11…

Brunei GDP declines 1.4% in Q4 2020 Oil and gas sector reports negative growth in all four quarters of 2020 but downstream sector maintains positive momentum

March 19, 2021

BANDAR SERI BEGAWAN – The Brunei economy shrank 1.4 percent in the final quarter of last year, ending its run of positive growth…

Gov’t set to cut spending on development projects as fiscal deficit hits $2.98 billion The proposed 2021/22 budget of $5.86 billion remains unchanged from the past two financial years

March 17, 2021

BANDAR SERI BEGAWAN – Brunei’s fiscal deficit is on track to widen even further with a $2.98 billion shortfall as of February 28…

Low oil revenue projected to push fiscal deficit to 15% of GDP CSPS expects Brunei to record a fiscal deficit for the third straight year

February 3, 2021

BANDAR SERI BEGAWAN – Brunei is poised to experience a budget shortfall for the third year running in 2021 after the fiscal deficit…

Brunei economy to grow 2.8% in 2021 Think tank predicts post-COVID growth for Brunei but warns that outlook depends on recovery of global trade and commodity prices

February 2, 2021

BANDAR SERI BEGAWAN – The Brunei economy is projected to expand 2.8 percent in 2021, led by downstream exports and the manufacturing sector,…

Brunei sets goals for diversifying economy beyond oil Government identifies five priority sectors for growth in a 15-year economic blueprint

January 8, 2021

BANDAR SERI BEGAWAN — The Ministry of Finance and Economy has unveiled the Brunei Darussalam Economic Blueprint, which sets goals to help the…

Brunei’s economic growth slows to 0.5% in third quarter 2020 The downstream sector remains the top performer while the upstream sector reports more revenue losses

January 5, 2021

BANDAR SERI BEGAWAN – Brunei posted a slower economic growth of 0.5 percent in the third quarter of 2020 even as the downstream…

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