Bahrain 'faces budget deficit, inflation challenges' | Al Bawaba:
"An increased budget deficit plus a rising inflation rate are key challenges facing Bahrain, a leading banker has warned.
According to BBK chairman Murad Ali Murad, inflation reached a high of 3.8 per cent during late last year, primarily driven by a rise in housing and utility costs and also affected from an increase in food prices.
"This has to be seen against a backdrop of depleting oil reserves and a recovering socio-political arena," he was quoted as saying in the Gulf Daily News, our sister publication.
Murad said that in a move to prevent the budget deficit widening further and avert the possible risk of a future fiscal crunch, the government is looking to introduce new ways to redirect subsidies to those most in need and create a more long-term sustainable public spending model."
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