Policy Priorities to Safeguard Longer-Term Fiscal Sustainability in Brunei
In the recent decade however, Brunei’s hydrocarbon-based economic model has come under increasing pressure, reflecting major disruptions in offshore oil and gas production.
In the recent decade however, Brunei’s hydrocarbon-based economic model has come under increasing pressure, reflecting major disruptions in offshore oil and gas production.
The rapid shift toward digital solutions and innovation highlights the growing importance of the information and communication technology (ICT) sector in Brunei.
Under the Wawasan Brunei 2035, tourism has been identified as one of the five priority sectors for economic diversification.
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.