Brunei's Overall Balance (% of GDP): Net Lending/Borrowing Trends and Forecasts (1990-2029)

Brunei’s fiscal history is deeply tied to oil and gas revenues, with significant volatility reflecting global energy price fluctuations. The 1990s witnessed large deficits, peaking at -24% in 1998, during a period of declining oil revenues and economic challenges. A sharp turnaround occurred in the early 2000s, with surpluses reaching 36.1% of GDP in 2008 due to high energy prices.

Post-2014, oil price collapses pushed Brunei back into deficits, peaking at -21.7% in 2016. While a temporary recovery occurred in 2022 with a surplus of 2.5%, the outlook for 2023-2029 suggests persistent deficits around -10.5%, highlighting the need for economic diversification and fiscal reforms to reduce dependency on hydrocarbons.