IDEAS home Printed from https://ideas.repec.org/p/imf/imfscr/2024-301.html
   My bibliography  Save this paper

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

Author

Listed:
  • International Monetary Fund

Abstract

The 2024 Article IV Consultation highlights that Brunei faces complex diversification challenges while it continues to contend with a protracted recovery since the pandemic. Real gross domestic product 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. The recovery is expected to continue, with growth strengthening in 2024 given the increase in O&G production, including from new fields. Inflation is projected to remain unchanged, and fiscal and external balances are expected to stabilize alongside O&G prices. The report recommends maintaining a prudent fiscal stance given the narrowing output gap, uncertainty around O&G revenues and long-term decarbonization trends. Brunei’s currency board has served it well: continuing to align policy rates with the Monetary Authority of Singapore is recommended. It is also recommended to closely monitor credit growth and ensure that the foreign loans continue to be invested in high credit-rated assets, to help to mitigate credit risk.

Suggested Citation

  • International Monetary Fund, 2024. "Brunei Darussalam: 2024 Article IV Consultation-Press Release; and Staff Report," IMF Staff Country Reports 2024/301, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2024/301
    as

    Download full text from publisher

    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=555551
    Download Restriction: no
    ---><---

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:imf:imfscr:2024/301. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Akshay Modi (email available below). General contact details of provider: https://edirc.repec.org/data/imfffus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.