02317cas a2200241 a 4500 AALejournalIMF015974 230101c9999 xx r poo 0 0eng d 5.00 USD 9781513516615 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. Asia and Pacific Dept. Brunei Darussalam : 2019 Article IV Consultation-Press Release and Staff Report. Washington, D.C. : International Monetary Fund, 2019. 1 online resource (54 pages) IMF Staff Country Reports <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This 2019 Article IV Consultation highlights that Brunei's economy has been adjusting to declining oil production since 2010 and lower oil and gas (O and G) prices since 2014, with the authorities undertaking wide-ranging reforms. Growth is expected to pick up in 2019 to 1.8 percent, with the outlook improving further over the medium term, driven by stronger O and G activities from asset rejuvenation and large foreign direct investment projects. The authorities have made substantial progress in fiscal consolidation, improving the business climate, and developing the financial sector. The fiscal consolidation initiatives include corporatization and privatization, public-private partnership, evaluation of subsidies against targets, fiscal management enhancement, revenue diversification, and amalgamation of the government's asset management system. The IMF staff supports the authorities' initiatives to develop the financial sector, while safeguarding financial stability and integrity. The initiatives include steps to broaden the investor base, establish a secondary bond market, develop the required infrastructure and rules for establishing a stock exchange, and put all the three pillars of Basel II in place. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2019/310 Full text available on IMF http://elibrary.imf.org/view/journals/002/2019/310/002.2019.issue-310-en.xml IMF e-Library