## Brunei Darussalam: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Brunei Darussalam

_IMF Staff Country Reports, September 20, 2021_

## Source details

**Canonical URL:** [Brunei Darussalam: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Brunei Darussalam](https://www.imf.org/en/publications/cr/issues/2021/09/16/brunei-darussalam-2021-article-iv-consultation-press-release-staff-report-and-statement-by-465885)

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## Bibliographic details
- Published: September 20, 2021
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513597102.002

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### Summary
- Brunei’s economic performance, which was strong before the COVID-19 pandemic, was buffeted by the health crisis and a pandemic-induced oil and gas price shock.
- Authorities responded fast and decisively with a swift public health response, effective health measures, and non-pharmaceutical interventions that quickly suppressed the number of new infections.
- Strong fiscal and regulatory policy responses helped sustain production, household income, and consumption.
- Past diversification efforts and reforms contributed to resilience when most needed.
- As a result, the economy performed strongly in 2020, with real GDP posting positive growth of 1.1 percent—a rare outcome amidst negative growth in the region.
- Economic activity is projected to strengthen in 2021-22, at varying speeds across sectors, and to continue improving over the medium term on the back of further diversification.
- The outlook is subject to unusual uncertainty, with significant risks skewed to the downside.
- Sustained strong policy actions are needed to ensure continued resilience while nurturing green, digital, and inclusive growth.

### Economic performance and projections
- 2020: real GDP growth of 1.1 percent.
- 2021-22: economic activity projected to strengthen (sectoral speeds will vary).
- Medium term: continued improvement expected, supported by further diversification.
- Outlook: subject to unusual uncertainty; significant downside risks.

### Policy response and recommendations
- Public health: rapid suppression of new infections through swift public health response, effective health measures, and non-pharmaceutical interventions.
- Fiscal and regulatory policy: strong responses helped sustain production and household income and consumption.
- Structural policy emphasis: sustain strong policy actions to preserve resilience and promote green, digital, and inclusive growth.
- Diversification: continue reforms and diversification efforts to support medium-term recovery.

### Risks and uncertainties
- The macroeconomic outlook carries unusual uncertainty.
- Significant risks are skewed to the downside.

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_Source: https://www.imf.org/en/publications/cr/issues/2021/09/16/brunei-darussalam-2021-article-iv-consultation-press-release-staff-report-and-statement-by-465885_