Financial Savings in Bahrain Only 33 Million: What a Lie!

2022-08-19 - 2:02 م

Bahrain Mirror (Exclusive): The Government could have remained silent and issued no statement on the financial savings made by the state treasury with the increase of oil prices, instead of declaring false figures.

The government claimed in its statement after the weekly session, Monday (August 15, 2022), that the state achieved financial savings of only 33 million during the first half of this year. 

The question is how can the government make this claim knowing that the price of an oil barrel doubled from the price adopted in the budget to break the barrier of at least $100 in the second quarter of this year. 

The government set the price of oil in the budget at $55 a barrel, while the average price per barrel during the first half was more than $100.

The International Monetary Fund had predicted that Bahrain's oil revenues would rise by 39%, meaning that the state treasury will reap an additional $11 million (4.1 billion dinars) in 2022. 

If the government has estimated the total budget deficit for this year at about BD 1.1 billion, it is supposed to record estimated savings of about BD 3 billion, according to estimates published by "Bahrain Mirror" last May.

Political societies confirmed in a similar statement that "oil revenues are expected to double to more than BD 3 billion this year, along with the revenues of the added tax, which is expected to reach BD 800 million dinars."

At the very least, the government is supposed to have achieved savings of at least BD 1 billion during the first half and not 33 million, the difference between the two figures is about 967 million dinars.

No one is asking the government for transparency in announcing the real surplus and disbursements because people know that won't happen, but it's not forced to provide figures that provoke citizens who are waiting for an aid package to be offered with that surplus as neighboring countries have done. 

The government has reached a point where it steals its citizens' money publicly and it is not ashamed to say in its official statements that it is lying and not waiting for anyone to believe it.

Arabic Version