Bahrain revenues rise

Bahrain’s overall revenues increased tangibly last year compared with the financial results for the 2021 fiscal year.

Preliminary financial estimates for 2022 show Bahrain’s commitment to implementing the economic and development priorities and programmes.

The positive outlook featured in a memo submitted by the ministerial committee for financial and economic affairs and fiscal balance to the weekly Cabinet meeting, chaired by His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, yesterday.

The data, also released separately by the Finance and National Economy Ministry, showed compliance with the levels of public expenditures according to the appropriations for the fiscal year 2022.

This contributed to reducing the total fiscal deficit by 85 per cent compared with budget estimates to BD178 million for 2022, compared to the budget deficit estimated at BD1,185m.

Total oil revenues increased by 58pc compared with the budget estimates and by 36pc compared with the actual results for the year 2021.

The country’s total public revenues increased by 42pc to BD3,490m compared with the budget estimates and 33pc compared with the actual results for the year 2021.

Meanwhile, non-oil revenues increased by 15pc compared with the budget estimates and by 28pc compared with the results of 2021.

The government was able to maintain the estimated levels of total public expenditures, as the total expenditures amounted to BD3,668m in 2022. A total of BD190m was spent on projects while BD3,478m was spent on recurrent expenditures.

The session stressed the importance of the official talks between His Majesty King Hamad and Hungarian President Katalin Novák in furthering co-operation.

It also praised the level of participation in the 5th edition of the Isa Award for Service to Humanity, which was launched in tribute to the late Amir, HH Shaikh Isa bin Salman Al Khalifa.

The Cabinet congratulated Saudi Arabia on its Founding Day, stressing its landmark development and achievements, led by Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, with the support of Crown Prince and Prime Minister Prince Mohammed bin Salman bin Abdulaziz Al Saud.

It congratulated Kuwait on the 62nd National Day and the 32nd Liberation Day, praising Kuwait’s development led by the Amir, Shaikh Nawaf Al Ahmed Al Jaber Al Sabah, with the follow-up of Crown Prince Shaikh Mishaal Al Ahmed Al Jaber Al Sabah.



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