'brunei economy' Stories

Brunei economy slides into recession after worst quarter in three years Underwhelming performance of oil and gas sector continues to weigh down on economy

October 11, 2021

BANDAR SERI BEGAWAN — The Brunei economy slid deeper into recession after posting its largest quarterly contraction in three years amid persistent oil…

COVID-19: Gov’t issues guidelines on working from home Certain sectors such as agriculture expected to take a hit from second wave of infections as Brunei faces shortage of foreign workers

August 10, 2021

BANDAR SERI BEGAWAN – The government has issued guidelines requiring all public and private sector organisations to proceed with their business continuity plans…

Economic diversification gathers pace as oil reliance wanes: CSPS Brunei should make use of its competitive advantage in energy sector and expand into niche markets, says think tank

August 4, 2021

BANDAR SERI BEGAWAN – Brunei has made “substantial progress” in diversifying its oil-driven economy in recent years, and should continue harnessing its strengths…

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…

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