UPDATE 1-Bahrain to cut government agencies' spending by 30% amid coronavirus - Reuters:
Bahrain will slash spending by ministries and government agencies by 30% to help the country weather the coronavirus outbreak, a cabinet statement said on Monday after meeting.
The Gulf island state’s government will also reschedule some construction and consulting projects in order to keep spending within the 2020 budget and make room for other spending needs emerging as a result of the disease’s spread.
The move comes as other states in the Gulf seek to cut spending as they face fiscal pressure from virus containment measures that have brought to a near halt vital economic sectors such as tourism and transport.
Plunging oil prices and an agreement on production cuts are also expected to weigh on regional budgets this year.
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