The government’s total expenditures for the 2023 fiscal year are estimated at Dhs67.5bn
The International Monetary Fund estimates Bahrain needs oil prices of around $107 a barrel to balance its budget
Euro-denominated outstanding debt is currently around 2 per cent of the kingdom’s overall portfolio
Officials expect the economy to expand 2.9 per cent this year and grow by a further 7.4 per cent in 2022
The kingdom aims to create more than 20,000 jobs annually for citizens by 2024
Oil revenue was about SAR148bn, an increase of 60 per cent from the same period last year
It includes a budget of Dhs58.931bn for 2022, of which 41.2 per cent will be allocated for the development and social benefits sector
Oman’s fiscal deficit may narrow to 4.2 per cent of gross domestic product in 2021
The price of Brent crude is still below what most of the region’s economies need to balance their budgets
The Gulf Arab kingdom is selling benchmark-size seven-year debt, 12-year securities and/or notes maturing in 30 years
The programme takes into account “the exceptional economic conditions of the fiscal year 2020″
Bahrain’s public finances have been under strain from the twin shock of the pandemic and lower oil prices
The federal cabinet also approved a national system for sustained agriculture
High unemployment, lack of progress in reducing carbon emissions and exacerbated inequalities are all possible side effects of the pandemic
Oman has resorted to spending cuts to stabilise public finances
The government is looking at additional spending cuts and may issue as much as an additional SAR100bn of debt on top of SAR120bn riyals already announced
Qatar forecast a fiscal deficit of 7.8 per cent of GDP this year, the first deficit in 15 years
The stock market rose in the minutes after the announcement, trading 0.9 per cent higher.
The projected federal spending of Dhs49.1 billion is up from Dhs46 billion in the original budget for 2014.
© 2021 MOTIVATE MEDIA GROUP. ALL RIGHTS RESERVED.