Communication - Press

Budget deficit cut by 38 per cent

Manama: The actual budget deficit dropped by 38 per cent during the first half of this year to stand at BD404 million, down from BD650m during the same period in 2018.

Actual spending also decreased by 2.5pc, while actual revenues soared by around 19pc during the first six months of this year.

The positive indicators were announced as His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa chaired yesterday’s weekly Cabinet meeting.

His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Commander and First Deputy Premier, attended.

Finance and National Economy Minister Shaikh Salman bin Khalifa Al Khalifa submitted a memo detailing budget results at the half-year closing, ending on June 2019.

The session commended dedicated efforts to implement the Fiscal Balance Programme aimed at balancing revenues and expenditure.

According to details presented by the minister, the consolidated financial statement for the fiscal year 2018 and the budget performance were endorsed and referred to the legislative branch of government.

Thus, the total actual revenues topped BD2.77 billion, while actual spending stood at BD3.67bn, which result in an actual deficit of BD895m.

Source: http://www.gdnonline.com/Details/582623