## Brunei Darussalam: 2019 Article IV Consultation-Press Release and Staff Report

_IMF Staff Country Reports, October 10, 2019_

## Source details

**Canonical URL:** [Brunei Darussalam: 2019 Article IV Consultation-Press Release and Staff Report](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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## Bibliographic details
- Published: October 10, 2019
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513516615.002

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### Economic adjustment and outlook
- 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.

### Fiscal consolidation and public‑sector reforms
- Authorities have made substantial progress in fiscal consolidation through multiple initiatives:
  - Corporatization and privatization.
  - Public-private partnership.
  - Evaluation of subsidies against targets.
  - Fiscal management enhancement.
  - Revenue diversification.
  - Amalgamation of the government’s asset management system.

### Financial sector development and stability
- IMF staff supports authorities’ initiatives to develop the financial sector while safeguarding financial stability and integrity.
- Key initiatives include:
  - Steps to broaden the investor base.
  - Establishment of a secondary bond market.
  - Development of the required infrastructure and rules for establishing a stock exchange.
  - Implementation of all the three pillars of Basel II.

### Key statistics and publication metadata (from the content)
- 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

*International Monetary Fund. Brunei Darussalam: 2019 Article IV Consultation-Press Release and Staff Report*

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_Source: https://www.imf.org/en/publications/cr/issues/2019/10/10/brunei-darussalam-2019-article-iv-consultation-press-release-and-staff-report-48728_