Published on 9th March 2020
His Majesty Sultan Haji Hassanal Bolkiah of Brunei has cautioned that the nation might face a budget deficit for the 2019/2020 fiscal year, influenced by the global downturn in oil demand due to the COVID-19 crisis. While Brunei experienced a 0.1% GDP growth in 2018, and a budget surplus in 2018/2019, the current econo...
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His Majesty Sultan Haji Hassanal Bolkiah of Brunei has highlighted the potential for a budget deficit in the 2019/2020 fiscal year due to the COVID-19 pandemic and declining oil prices, while emphasizing the importance of prudent government spending and economic reforms to navigate these challenges.
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