During his budget speech on March 2, 2024, the Brunei Ministry of Defense announced its highest budget for the fiscal year 2024/25, setting it at $796.3 million. This allocation represents a 28.5% increase from the current fiscal year, ending March 31, and a 10.7% rise from the previous record of $719.15 million a decade ago, despite a decline in government revenue. The minister emphasized the necessity of a robust defense strategy to protect national interests in an increasingly complex and unpredictable security landscape.
Brunei, a small absolute monarchy located on the island of Borneo in Southeast Asia, finds itself in a complex geopolitical context, enriched by its natural resources, primarily oil and natural gas, which ensure its economic prosperity and political independence. Despite its small size and limited population, Brunei plays a strategic role in the region due to its position in the South China Sea, a disputed and crucial area for international maritime routes. Territorial claims in these contested waters place Brunei in a delicate balance between maintaining friendly relations with its ASEAN neighbors and protecting its sovereignty and natural resources.