Bahrain wins $10bn financial lifeline from Gulf allies | Financial Times:
Bahrain has received a much-anticipated $10bn financial aid package from its Gulf allies as the kingdom seeks to deal with a worsening fiscal crisis.
Saudi Arabia, the United Arab Emirates and Kuwait agreed the financial aid to help finance a raft of domestic reforms and cost-cutting measures seeking to deliver annual savings of 800m Bahraini dinars ($2.1bn) and balance the budget by 2022.
“Today’s announcement demonstrates our commitment to putting the government’s finances on a solid and sustainable footing,” said Khaled bin Abdulla Al Khalifa, chairman of the ministerial committee for financial affairs, in a statement late on Thursday.
No comments:
Post a Comment