Bahrain misses key fiscal adjustment goals with 2019-2020 budget - Reuters:
Bahrain does not expect to meet some of the key goals it set out last year as part of a fiscal adjustment program linked to a $10 billion bailout received from its Gulf allies, a final draft of its state budget for the next two years shows.
Saudi Arabia, Kuwait and the United Arab Emirates last year pledged $10 billion in financial aid for the small Gulf oil producer as it headed for a credit crunch after piling up debt to offset the impact on revenues of lower oil prices.
The aid, however, was linked to a series of reforms aimed at eliminating Bahrain’s budget deficit by 2022.
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