International Reserves in Brunei
Brunei - International ReservesThe oil-dependent economy will have suffered in the first and second quarter of this year, hammered by plunging oil prices, collapsing demand for energy from abroad and the broader economic fallout from the Covid-19 pandemic. Mineral fuels make up nearly 90% of exports and vanishing demand is projected to have crippled the economy and dried up public revenues. That said, data from January and February—before the coronavirus outbreak—showed exports soared on the back of surging foreign sales of oil, gas and chemicals. Meanwhile, as part of efforts to mitigate the economic and social effects of the pandemic and following an economic stimulus package adopted earlier, in early May the government announced a reduction of annual commercial property tax of up to 50% for business landlords.
Brunei - International Reserves Data
|International Reserves (USD)||3.2||3.3||3.3||3.2||-|
5 years of economic forecasts for more than 30 economic indicators.
Source: World Bank and FocusEconomics calculations.
|Exchange Rate||1.34||0.0 %||Jan 01|
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