What is the most common attribute amongst the world's wealthiest countries as measured by GDP per capita (adjusted for purchasing power parity) in 2016?
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Ruled by the Sultan Hassan Bolkiah, the wealthy inhabitants of Brunei are currently experiencing an unusual austerity drive with efforts underway to substantially reduce public spending. Long dependent upon its rich oil and gas reserves, which it largely exports in crude form to resource hungry neighbours such as Japan and India, the sultanate has recently felt the effects of low global oil prices. Plans are now underway to expand Brunei’s refining capacity, with Chinese investors seeking to establish a new refinery with the capacity to process some 150,000 barrels a day. The government is also seeking to diversify the economy away from its current over-dependence upon the hydro-carbon sector. One example of this is its investing in developing a premium halal brand for beef. However it will take time before such measures produce any substantial changes in GDP and the budget deficit is projected to expand again in 2017. Despite such concerns, the small south-east Asian state of Brunei Darussalam remains one of the most affluent countries in the world.