Bahrain’s council of ministers last week approved a two-year budget for 2015-16 with a 74% rise in the projected deficit to BD3.04bn ($8.05bn) compared to the aggregate deficit for the two previous years (see table).
Unveiling the budget, Finance Minister Shaikh Ahmad Al Khalifa said the focus in the next two years will be on “discipline spending and economic growth,” without undermining the wellbeing of citizens. He adds that Bahrain intends to raise loans to cover this ballooning deficit. (CONTINUED - 781 WORDS)
