{
  "title": "Brunei Darussalam: 2019 Article IV Consultation-Press Release and Staff Report",
  "publication": "IMF Staff Country Reports, October 10, 2019",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2019/10/10/brunei-darussalam-2019-article-iv-consultation-press-release-and-staff-report-48728",
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  "summary": "This 2019 Article IV Consultation highlights that Brunei’s economy has been adjusting to declining oil production since 2010 and lower oil and gas (O&G) prices since 2014, with the authorities undertaking wide-ranging reforms. Growth is expected to pick up in 2019 to 1.",
  "sections": [
    {
      "heading": "Economic adjustment and outlook",
      "content": "- Brunei’s economy has been adjusting to declining oil production since 2010 and lower oil and gas (O&G) prices since 2014.\n- Growth is expected to pick up in 2019 to 1.8 percent.\n- The outlook is expected to improve further over the medium term, driven by stronger O&G activities from asset rejuvenation and large foreign direct investment projects."
    },
    {
      "heading": "Fiscal consolidation and public‑sector reforms",
      "content": "- Authorities have made substantial progress in fiscal consolidation through multiple initiatives:\n  - Corporatization and privatization.\n  - Public-private partnership.\n  - Evaluation of subsidies against targets.\n  - Fiscal management enhancement.\n  - Revenue diversification.\n  - Amalgamation of the government’s asset management system."
    },
    {
      "heading": "Financial sector development and stability",
      "content": "- IMF staff supports authorities’ initiatives to develop the financial sector while safeguarding financial stability and integrity.\n- Key initiatives include:\n  - Steps to broaden the investor base.\n  - Establishment of a secondary bond market.\n  - Development of the required infrastructure and rules for establishing a stock exchange.\n  - Implementation of all the three pillars of Basel II."
    },
    {
      "heading": "Key statistics and publication metadata (from the content)",
      "content": "- Growth projection: 1.8 percent (2019).\n- Declining oil production noted since 2010.\n- Lower O&G prices noted since 2014.\n- Pages: 54.\n- Issue: 310.\n- ISBN: 9781513516615.\n- DOI: https://doi.org/10.5089/9781513516615.002\n\nInternational Monetary Fund. Brunei Darussalam: 2019 Article IV Consultation-Press Release and Staff Report\n\n---\n\n Content in this bundle\n\n- 1brnea2019001\n  - 1brnea2019001 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1brnea2019001 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: October 10, 2019",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781513516615.002",
    "Brunei’s economy has been adjusting to declining oil production since 2010 and lower oil and gas (O&G) prices since 2014.",
    "Growth is expected to pick up in 2019 to 1.8 percent.",
    "The outlook is expected to improve further over the medium term, driven by stronger O&G activities from asset rejuvenation and large foreign direct investment projects.",
    "Authorities have made substantial progress in fiscal consolidation through multiple initiatives:",
    "IMF staff supports authorities’ initiatives to develop the financial sector while safeguarding financial stability and integrity.",
    "Key initiatives include:",
    "Growth projection: 1.8 percent (2019).",
    "Declining oil production noted since 2010.",
    "Lower O&G prices noted since 2014.",
    "Pages: 54.",
    "Issue: 310.",
    "ISBN: 9781513516615.",
    "DOI: https://doi.org/10.5089/9781513516615.002",
    "**1brnea2019001**"
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