The Ministry of Finance and Economy (MoFE) has proposed a National Budget of BND6.35 billion for the 2025/2026 Financial Year, marking an increase of BND100 million from the previous year’s BND6.25 billion.
This announcement was made by Yang Berhormat Dato Seri Setia Dr Awang Haji Mohd Amin Liew bin Abdullah, Minister at the Prime Minister’s Office and Minister of Finance and Economy II, during his budget speech at the 21st session of the Legislative Council (LegCo) meeting on Saturday.
Despite the increased budget, national revenues are projected to reach BND3.26 billion, resulting in a projected deficit of BND3.1 billion for the upcoming financial year. This marks a significant rise from the BND2.42 billion deficit recorded in the 2024/2025 financial year, continuing a trend of widening deficits faced by the Government over the past decade.
On a positive note, Brunei Darussalam has achieved a remarkable Gross National Product (GDP) growth rate of 4.2 per cent in 2024, the highest since 1999. Additionally, the unemployment rate has dropped to a low of 4.8 per cent.
More details on Sunday’s Borneo Bulletin
