Beyond the immediate terms of trade gains, Brunei Darussalam authorities are encouraged to strengthen sustainability of Brunei’s fiscal position. This would require the development of a strong public financial management system, which would then pave the way for the adoption of credible medium-term fiscal frameworks to provide forward guidance on fiscal policy.
This was said recently in the preliminary assessment made by ASEAN+3 Macroeconomic Research Office (AMRO) after its Annual Consultation Visit to Brunei Darussalam in late November.
The authorities are also encouraged to undertake necessary preparations, including strengthening of capacity, in order to carry out the planned revenue and expenditure reforms.
More details on Monday’s Borneo Bulletin
