Bahrain’s public revenues up while fiscal deficits down

TDT | Manama                                            

The Daily Tribune – www.newsofbahrain.com   

Bahrain has increased its public revenues while reducing fiscal deficits. This was based on the Ministry of Finance and National Economy’s initial financial results achieved during the year 2022.

The Kingdom maintains its commitments to implementing the government projects and the objectives of the fiscal balance plan.

The Ministry stated that the primary financial data for the year 2022 showed an increase in total oil revenues by 58%, compared to the budget estimates, and by 36% compared to the actual results for the year 2021.

The total public revenues amounted to BD3,490 million, marking an increase of 42% over the budget estimates and 33% compared to the actual results for the year 2021.

Meanwhile, non-oil revenues increased by 15% compared to the budget estimates and by 28% compared to the results of the year 2021.

The government was able to maintain the estimated levels of total public expenditures, as the total expenditures amounted to BD3,668 million in 2022.

A total of BD190 million was spent on projects while BD3,478 million was spent on recurrent expenditures. The total fiscal deficit decreased by 85%, amounting to BD178 million.