Initial financial estimates for 2022 showed a decrease in deficit levels

The Ministry of Finance and National Economy revealed that the initial financial results achieved during the year 2022 showed an increase in public revenues and a decrease in fiscal deficit levels, with the Kingdom of Bahrain maintaining its commitments to implementing the government projects that aim to achieve the desired aspirations and goals and to implement the objectives of the fiscal balance plan.

The Ministry stated that the primary financial data for the year 2022 showed an increase in total oil revenues by 58%, compared to the budget estimates and by 36% compared to the actual results for the year 2021. The total public revenues amounted to BD 3,490 million, marking an increase of 42% over the budget estimates and 33% compared to the actual results for the year 2021. Meanwhile, non-oil revenues increased by 15% compared to the budget estimates and by 28% compared to the results of the year 2021.

The government was able to maintain the estimated levels of total public expenditures, as the total expenditures amounted to BD 3,668 million in 2022. A total of BD 190 million was spent on projects while BD 3,478 million was spent on recurrent expenditures.

The Ministry also pointed out that the total fiscal deficit decreased by 85%, amounting to BD 178 million, compared to the budget deficit estimated at BD 1,185 million.

 

Source: https://www.bizbahrain.com/initial-financial-estimates-for-2022-showed-a-decrease-in-deficit-levels/

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