'brunei economy' Stories

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…

Opinion

Opinion

Weaning Brunei off oil With depleting oil reserves and vulnerability to fluctuating energy prices, Brunei's economic diversification cannot come soon enough.

January 17, 2022

As a resource-rich country, Brunei Darussalam’s economy depends heavily on developments in the oil and gas sector. The Bruneian authorities have — for…

Economic woes continue to batter Brunei as oil output hits record low Brunei economy struggles to recover with 2.2% contraction in Q3 2021 amid second COVID wave

January 11, 2022

BANDAR SERI BEGAWAN – Brunei’s crude oil production plunged to a record low in the third quarter of 2021 as the second COVID…

Central bank: Brunei to end 2021 with ‘subdued’ economic growth Sluggish economy has been attributed to lower oil output and pandemic disruptions

December 25, 2021

BANDAR SERI BEGAWAN – The Brunei economy is expected to end the year on a low note as it deals with the spillover…

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…

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