Bahrain Mirror: Al-Wasat, a local Bahraini newspaper, stated that the Government of Bahrain's 2015-2016 budget expenditure plan which will be presented to the Parliament next week includes a section that says that "government budget spending will not be able to cover the expenses of all future projects, financial support of higher educational institutions (The University of Bahrain and Bahrain Polytechnic), the Social Security Program for Needy Families, financial support (Cost-of-living allowance) for citizens and beneficiaries of various social programs, rent allowance, Improving Living Standard Allowance for Retirees, as well as operational budgets of ministries and governmental institutions unless by borrowing."

"The budget plan which will be presented to the parliament was made based on an oil price of $60 per barrel in both years. Thus, the revenue in 2015 will amount to 2097 million dinars and to 2138 million dinars in 2016. The expenditure was budgeted to be in accordance with the revenue. There will not be a budget deficit in case the aforementioned expenses are excluded," the newspaper added.

Al-Wasat also pointed out that the "public sector salaries alone amount to 1500 million dinars per year, and the public debt service (interests) reaches 296 million dinars annually."

It is noteworthy that the parliament rejected (on March 24, 2015) the delegated legislation that aimed at increasing the public debt ceiling from 5 to 7 billion, in agreement with the Finance Committee's recommendation to decline the delegated legislation.

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