Southeast Asia

Sum of Measures 1—5 (Total Package)

Total Package in USD Million: 318.12
% of GDP (2019): 2.66%
% of Regional Total Package: 0.07%
Package Per Capita in USD: 734.21
Note: Measures 9 and 10 are added to the sum of Measures 1-5.
Measure Amount (Local) Amount (USD) Details Update Source
01 - Liquidity Support info_outline
01A - Short-term lending info_outline
01B - Support policies for short-term lending info_outline
01C - Forex operations info_outline
02 - Credit creation info_outline
02A - Financial sector lending/funding info_outline
02B - Support policies for long-term lending info_outline
02B1 - Interest rate adjustments
02B2 - Other policies to support long-term lending
02C - Loan guarantees
03 - Direct long-term lending info_outline BND450,000,000 USD318,122,907
03A - Long-term lending info_outline
03B - Forbearance BND450,000,000 USD318,122,907

On 30 March 2020, the Ministry of Finance and Economy (MOFE) announced additional financial support measures amounting to an estimated total of BND250 million, effective April 1. This Economic Relief Package (i) extends the deferment on principal payments of financing or loan to all sectors, (ii) provides for the restructuring or deferment on principal repayment of personal loans and hire purchase such as car financing, for a period not exceeding 10 years, (iii) provides for the deferment on principal repayments of property financing, (iv) provides for the conversion of any outstanding credit card balances into term loans not exceeding 3 years for affected individuals in the private sector only (including the self-employed), and (v) waiver of all bank fees/charges related to these facilities (except third party charges). Coupled with the earlier fiscal assistance, these measures will increase the value of Brunei’s Economic Stimulus Package to a total of BND450 million (or 3.2% of GDP).

04 - Equity support info_outline
05 - Health and income support
05A - Health support
05B - Income support
05B1 - Tax and contribution deferrals and policy changes

The fiscal measures include amongst others, the deferment of payments on Employees Trust Fund (TAP) and Supplementary Contributory Pension (SCP) contributions, discounts on corporate income taxes, rents and utilities.

05B2 - Tax and contribution rates reduction

All bank fees and charges (except third party charges) that are related to trade and payments of transactions in affected sectors mentioned in Measure 3 will be waived for a period of six months;

05B3 - Subsidies to individuals and households
05B4 - Subsidies to businesses

No amount/estimate: Effective April 1 for six months, an interim fiscal package has been deployed to support SMEs and self-employed groups in sectors such as tourism, hospitality, transport and restaurants.

05B5 - Indirect income support
05B6 - No breakdown (income support)
05C - No breakdown (health and income support)
06 - Budget reallocation info_outline
07 - Central bank financing government
07A - Direct lending and reserve drawdown
07B - Secondary purchase: government securities
08 - International Assistance Received
08A - Swaps info_outline
08B - International loans/grants
08B1 - Asian Development Bank
08B2 - Other
09 - International Assistance Provided
09A - Swaps info_outline
09B - International loans/grants
10 - No breakdown
11 - Other Economic Measures
12 - Non-Economic Measures
12A - Measures affecting travel and transport (local and international)

(i) The government is actively responding to the risks of the pandemic from spreading further by implementing a range of measures, including strict inbound and outbound travel restrictions and banning all mass gatherings, including weddings and sporting events; (ii) MOH actively rolling out a contact tracing app (“BruHealth”) for residents to download before they are given the green light to visit public places.

12B - Measures affecting business and workplace
12C - Others

The Ministry of Health (MOH) is also stepping up efforts to track close contacts of positive cases;