Bahrain Deficit Shrinks to 4.7% of GDP in 2019
2020-02-13 - 7:25 p
Bahrain Mirror- Reuters: Bahrain's budget deficit shrank to 4.7% of gross domestic product (GDP) in 2019 from 6.3% a year earlier, the ministry of finance said on Monday citing preliminary fiscal results.
The small Gulf state aims to deliver a balanced budget by 2022 as part of a programme of fiscal reforms linked to a $10 billion financial aid package received in 2018 from its Gulf allies.
Reforms so far included a spending review, a voluntary retirement scheme for public sector workers and the introduction of a value added tax.
Bahrain saw its primary budget deficit - which excludes interest payments - decrease 85% year-on-year in 2019, it said on Monday.
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