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Bahrain expects to post $11.9Bn revenues in 2017/18

Arabian Business - June 13, 2017

Bahrain is expecting to generate $11.93 billion (BD4.5 billion) in combined revenues for 2017 and 2018, according to state news agency Bahrain News Agency.

The government estimates 2017 revenue at BD2.2bn, oil and non-oil revenues contributing BD1.7bn and BD500m, respectively. As for 2018, the overall revenue is expected to increase to BD2.3bn, with oil revenues at BD1.8bn and non-oil income at BD560m.

For both the years, the government has benchmarked oil price at $55 per barrel.

The 2017-2018 draft budget plan also estimates general spending at BD7bn, with BD700m allocated for development of projects.

According to BNA, the budget deficit is expected to reach BD2.5bn, BD1.3bn this year and BD1.2bn in 2018.

Prime Minister Prince Khalifa bin Salman Al Khalifa, during the latest cabinet meeting, told ministries and government departments to abide by approved budget and avoid any financial commitments that exceed allocated budgets.