Brunei proposes 6.3 bln budget for 2026/27 fiscal year

BANDAR SERI BEGAWAN, March 14 (Xinhua) -- The Brunei government on Saturday proposed a national budget of 6.3 billion Brunei dollars (4.92 billion U.S. dollars) for the 2026/27 fiscal year, slightly lower than the 6.35 billion Brunei dollars allocated in the previous fiscal year.

The proposal was presented during a session of the 22nd Legislative Council meeting by Mohd Amin Liew Abdullah, minister at the Prime Minister's Office and second minister of finance and economy.

The minister noted that the country's economic outlook remains positive for 2026, with several global financial institutions projecting moderate growth.

Despite the positive outlook, the minister highlighted that Brunei remains vulnerable to external economic factors, saying the country's government revenue continues to depend heavily on global oil prices and is also affected by sluggish global trade and geopolitical tensions.

The minister stressed that the government must maintain fiscal discipline and said the government will continue to practice prudent spending, focusing on expenditures that can generate economic spin-offs and long-term benefits for the economy. ■