BRUNEI DARUSSALAM | Overview
Official name: Brunei Darussalam
Capital: Bandar Seri Begawan
Official languages: Malay
Monetary unit: Brunei Dollar
Population (mln- 2013): 417,714
Total area (sq km): 5,770
The small country of Brunei Darussalam lies on the northwestern edge of the island of Borneo, which located just north of Equator. Brunei economy is heavily dependent on crude oil and liquefied natural gas. In the recent years, as the domestic production of both commodities are in a declining trend, Brunei witnessed a slowdown in its economy. Inflation in Brunei Darussalam remains subdued with a stable currency, optimum subsidies and price controls.
The Government of Brunei Darussalam has developed the Wawasan Brunei 2035–Long Term Perspective Plan to diversify the economy by expanding the manufacturing, construction, and service sectors. Apart from broadening its revenue base, Brunei also put in place a program for enhancing oil and gas production in the medium to long-term by increasing investment and expanding value-added petrochemical products.
Year joined ICD:
Number of projects approved: 1
Gross Approval ($US million): 4.00
Gross Disbursement ($US million): 0