IMF Staff Country Reports

Brunei Darussalam: Recent Economic Developments

Publication Date:

April 21, 1999

Electronic Access:

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Summary:

This paper describes economic developments in Brunei Darussalam during 1997–98. In 1997, the economy grew by 4 percent led by strong construction and services activities, while average inflation declined to less than 2 percent. Current expenditures were contained, and a recovery in capital expenditures was financed by larger transfers from the Brunei Investment Agency. In 1998, the Brunei economy was adversely affected by the large decline in world price of crude oil, the collapse of a large domestic private company, and the impact of the Asian crisis.

Series:

Country Report No. 1999/019

Subject:

Banking Capital spending Commercial banks Expenditure Exports Financial institutions Imports International trade