Ministry of Finance & Economy
- The Ministry of Finance and Economy of Brunei is a key government ministry responsible for overseeing the country’s economic and financial matters. It plays a central role in formulating and implementing fiscal policies, managing national budgets, and ensuring the financial stability and economic growth of Brunei. The ministry works closely with other government agencies, private sector partners, and international bodies to create strategies that promote economic diversification, sustainable development, and sound public financial management.
- One of the primary functions of the Ministry of Finance and Economy is to manage Brunei's public finances. This includes overseeing government revenues, expenditures, and managing the national budget. The ministry ensures that government spending aligns with national priorities and that public resources are allocated efficiently and effectively. It is also responsible for managing Brunei’s sovereign wealth and investment portfolios, which are designed to support long-term economic sustainability and reduce reliance on oil and gas revenues.
- The Ministry also plays a significant role in promoting economic diversification, which is a key goal of Brunei’s Vision 2035. It works on policies and initiatives that encourage growth in non-oil and gas sectors, such as manufacturing, tourism, agriculture, and services. By fostering the development of these industries, the Ministry aims to create new sources of income, generate employment opportunities, and reduce the country’s dependence on its natural resource exports.
- In addition, the Ministry of Finance and Economy is involved in creating a favorable business environment in Brunei, working to streamline regulations, improve infrastructure, and attract foreign investment. Through its efforts, the ministry seeks to build a resilient economy that is capable of adapting to global changes and challenges. Overall, the Ministry of Finance and Economy plays a crucial role in shaping Brunei’s economic landscape and ensuring that the country’s financial resources are managed in a way that promotes long-term prosperity for all its citizens.