​Legislative Council (LegCo) member Yang Berhormat Haji Salleh Bostaman bin Haji Zainal Abidin has urged immediate action to address Brunei’s budget deficit, questioning the disconnect between gross domestic product (GDP) growth and government revenue while highlighting employment and economic diversification concerns.

During the 2025/2026 budget deliberations, he commended the national budget’s theme, ‘United in Building a More Prosperous Future’, but pointed out that despite a 4.2 per cent economic growth – driven by non-oil and gas sectors – the country faces a BND3.1 billion deficit, with government expenditure at BND6.35 billion. He stressed the need for economic diversification, private sector growth, and foreign direct investment (FDI) to enhance fiscal stability.

Emphasising the government’s “no external borrowing” policy, he called for prudent spending and a stronger pro-business ecosystem. On employment, he noted that while Brunei’s universities are internationally recognised, many graduates struggle to secure full-time jobs. Although i-Ready and SkiPPA have helped reduce unemployment, the transition to permanent roles remains slow. With 75,000 work permit holders compared to 11,000 unemployed locals, he called for a targeted workforce strategy to prioritise local hiring and prevent brain drain. He proposed a ‘Returning Talent Programme’ with tax incentives and housing aid, global corporate partnerships for Bruneian graduates, a knowledge transfer framework, and strengthening key industries like halal, tourism and digital transformation to create attractive job opportunities.

For long-term sustainability, he stressed workforce development to ensure Bruneians hold mid-to-senior management roles in the petrochemical and downstream industries. He also advocated for leveraging Brunei’s Islamic reputation to establish its halal certification as a premium global brand and urged investment in creative industries, sports and digital entrepreneurship.

He called for a “clear and focused” strategy to empower government agencies in driving economic growth, reinforcing fiscal sustainability, and preparing Brunei’s workforce for the future.

(News & pic source: Borneo Bulletin)