Cairo: Brunei has implemented multiple measures to address fiscal deficit through the Fiscal Consolidation Program (FCP), including reviewing government department expenditures, reducing waste, and eliminating unproductive spending, a minister has said. Haji Mohd Amin Liew Abdullah, minister at the prime minister's office and second minister of finance and economy, emphasized that government agencies must adopt modern and innovative approaches to enhance public service efficiency.
According to Namibia Press Agency, 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, as stated by 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.