Bahrain Pays Over $1B in Interest on Public Debt Last Year, Reports Suggest
2017-05-10 - 10:50 p
Bahrain Mirror: Information reported that the Bahraini government paid about 395 million dinars (more than $1 billion) in 2016 as interests to lending banks. This comes amid public debt rising to record highs of 8.5 billion dinars.
"The interest of the public debt service reached 395 million dinars in 2016 and is expected to rise to 450 million dinars or 480 million dinars in 2017," according to Bahraini MP Ahmad Qarata, during a seminar at the Bahrain Chamber of Commerce and Industry.
Qarata further warned that "if the situation remained as it is, and the public debt continued to grow, then we will reach a bas stage, and a painful end."
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