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OIL INCOME UP 33%

Bahrain govt revenues up 23% in H1 to hit $2.95bn

MANAMA, August 17, 2021

Bahrain’s government revenues increased by 23% year-on-year (YoY) to BD1,119 million ($2.95 billion) in the first half of 2021, primarily due to a 33% increase in oil revenues caused by higher oil prices, while non-oil revenues increased by 4% YoY.

Actual government expenditure decreased by 4% YoY to BD1,639 million, while recurrent expenditure decreased by 2% YoY, reported Bahrain News Agency (BNA), citing the Biannual Financial Report 2021 published by the Ministry of Finance and National Economy, noting that this reduced the deficit by 35% to BD520 million.

Shaikh Salman bin Khalifa Al Khalifa, Minister of Finance and National Economy, said: "The Biannual Financial Report 2021 is a measure of progress that quantifies the remarkable work all public agencies do to meet citizens' requirements."

"Strategic planning, along with the persistent dedication of Team Bahrain, has yielded tangible outcomes in the Kingdom's path to development, buoying the economy during the Covid-19 crisis."




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