BRUNEI has implemented multiple measures to address fiscal deficit through Fiscal Consolidation Program (FCP), including reviewing government department expenditures, reducing waste, and eliminating unproductive spending, a minister said.
Xinhua News Agency cited Minister at the Prime Minister's Office And Second Minister Of Finance And Economy Haji Mohd Amin Liew Abdullah, saying that government agencies must adopt modern and innovative approaches to enhance public service efficiency.
The government will also identify new revenue streams and revise current charge rates, fees, and rentals to align with service standards. These efforts aim to diversify income sources from non-oil and gas sectors, according to the minister.
Last week, the minister proposed a 6.35 billion Brunei dollars (4.7 billion U.S. dollars) budget for the 2025-26 fiscal year. The national revenues are projected to reach 3.26 billion Brunei dollars (2.4 billion U.S. dollars) during the same period. – March 9, 2025
