Although the climate-related natural hazard risk of Brunei remains low, and below the world average, the climate transition risk is perennial. AMRO made some suggestions on how to better address the climate change challenges in the country.
Watch the highlights of AMRO's 2022 Annual Consultation Report on Brunei Darussalam. AMRO forecasts Brunei's economy to grow by 2.8% in 2023, boosted by the recovery in the services…
Brunei Darussalam's dependence on the oil and gas (O&G) sector also means that the economy is susceptible to global energy price shocks.
Economic activities in Brunei Darussalam have picked up since mid-2022. Thanks to high vaccination rates, daily new cases of COVID-19 have declined sharply since April 2022, enabling containment measures and border restrictions to be lifted.
Brunei Darussalam is expected to record a negative growth of 1.2 percent in 2022. The weak growth in 2022 mainly reflects the unexpected downturn in the upstream O&G production in H1 2022.
After the setback to growth last year due to the outbreak of the Delta variant of COVID-19, economic activities in Brunei Darussalam are gradually picking up, particularly in the non-oil and gas (O&G) sector.
AMRO Chief Economist Dr Hoe Ee Khor delivered a keynote speech ‘Economic prospects for ASEAN and what lies ahead’ at the Brunei Darussalam Mid-Year Conference and Exhibition 2022 (MYCE) Economy Week organized by the Ministry of Finance and Economy.
As a resource-rich country, Brunei Darussalam’s economy depends heavily on developments in the oil and gas sector.
Brunei Darussalam’s external position and fiscal balance should improve considerably, benefiting from rising global oil prices amid better global economic prospects.
The COVID-19 pandemic has accelerated the flight to digital for businesses and consumers globally, contributing to the fintech boom as technology has been introduced into many financial services and transactions.