Wednesday, 4 April 2012

Bahrain’s budget deficit up 5-fold in 10 years

Bahrain's budget deficit has increased up to five-fold in the last 10 years, a senior government official said, adding that in 2002 the figure stood at 1.8 per cent and is expected to reach around 9.7 per cent this year.

Finance Minister Shaikh Ahmed bin Mohammed Al Khalifa warned MPs not to push unrealistic spending plans on the government and put Bahrain's economic strength in jeopardy.

Shaikh Ahmed said the government was already taking risks despite the international financial crisis in response to fresh demands for new projects.

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