Bahrain’s Budget Deficit Down By 35% In 2018

The event will take place from 6-8 October 2020 at the Bahrain Exhibition Centre under the patronage of HRH Khalifa bin Salman Al Khalifa - Prime Minister of the Kingdom of Bahrain.
- Advertisement -

Bahrain’s budget deficit dropped 35% in 2018 compared to a year earlier, the finance minister said on Monday. Bahrain’s finances have been hit hard by a slump in oil prices in 2014.

Bahrain released a 33-page fiscal plan last year after signing an agreement with its Gulf neighbours to fix its debt-burdened finances and abolish its budget deficit by 2022.

Results indicated that the total deficit for the fiscal year 2018 amounted to BD 874 million, marking a decrease of BD 462 million compared to the 2017 deficit which reached BD 1,336 million. The deficit reduction was the outcome of initiatives to restructure the general budget, which began since 2015, by reducing the levels of recurrent expenditure.

READ  Bahrain: Parliament Passes 2019-20 Budget Into Law

Source: Reuters