Brunei Darussalam: 2024 Article IV Consultation-Press Release; and Staff Report

Author: International Monetary Fund. Asia and Pacific Dept

Volume/Issue: Volume 2024 Issue 301

Publication date: September 2024

ISBN: 9798400288722

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Business and Economics - Statistics , External sector statistics

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Summary

Brunei faces complex diversification challenges while it continues to contend with a protracted recovery since the pandemic. Real GDP has rebounded moderately, driven mainly by the non-oil and gas (O&G) sector and earlier than expected supply from a new O&G field in Q4 2023. Challenges persisted in downstream and upstream O&G production until H1 and Q3 2023, respectively, weakening fiscal and external positions in 2023.