Why is it that the Bahraini Finance Minister is talking about the state budget deficit while oil prices increased more than double the price set by the government?

Bahrain expects a significantly narrower budget deficit for the first half of 2022 due to high oil prices, Minister of Finance and National Economy Salman bin Khalifa Al-Khalifa said on Monday.

Responding to criticisms of MP Ibrahim Al-Nafei, Finance Minister Salman bin Khalifa Al Khalifa said last Wednesday "those who protect the country, combat Coronavirus, leave their families and remain in the front lines will be thanked and appreciated like those who work for the country and protect public wealth."

Minister of Finance and National Economy Salman bin Khalifa Al Khalifa said that the public debt interest in 2021 new budget represents more than 700 million dinars and will exceed 750 million dinars in 2022.

Minister of Finance Salman bin Khalifa Al Khalifa said that the government will implement projects worth $782.4 million within the two coming years, among the last batch of Gulf development program "Gulf Marshal" that was approved for the island kingdom in 2011. The projects will include vital sectors.

Bahrain's cabinet authorised the finance minister on Monday to directly withdraw funds with a 5% ceiling from the public account to deal with emergency measures related to the coronavirus outbreak, state television reported.

Has Bahrain lost control of its public debt? The sharp rise in government debt can't be attributed only to the fall in oil prices, but also to several other factors, most notably the political turmoil and failure of the government's economic policies.

Bahrain is making good progress on its fiscal consolidation plan and is on track to eliminate its deficit by 2022 as planned, Finance Minister Sheikh Salman bin Khalifa Al Khalifa said on Saturday.

Finance Ministers of the Gulf donor states met Bahrain's Finance Minister to review the Kingdom's achievements in implementing the Fiscal Balance Program, which was launched in October 2018.

Bahrain's Minister of Finance Salman bin Khalifa Al Khalifa said that the actual deficit recorded during the first half of this year amounted to BD 404 million, BD 245.9 million lower than the BD 650 million half-year deficit recorded during 2018.

Finance Minister Salman bin Khalifa Al Khalifa said that revenues from service fees, products and government goods constitute about 70% of total non-oil revenues, according to the state final account data for 2017 without subsidies.

Minister of Finance and National Economy Salman bin Khalifa Al Khalifa said that "work is underway to receive the second payment of the Gulf Support program soon".

Bahraini Finance Minister Salman bin Khalifa Al Khalifa said the deficit in the general budget dropped 35% last year.

An official statement said that Finance Minister Salman bin Khalifa Al Khalifa and Minister of Industry Zayed Al-Zayani will hold a meeting with Chamber of Commerce and Industry today to discuss the implementation of the Value Added Tax (VAT).

Finance Minister Ahmed bin Mohammed Al Khalifa said that they will contact the public opinion to explain the mechanisms of applying the Value Added Tax (VAT) before implementing it, indicating that they will give enough time to make sure that everyone has understood the application of this tax.

Bahrain will go ahead with imposing a value-added tax to strengthen state finances, Minister of Finance Sheikh Ahmed bin Mohammed al-Khalifa said on Wednesday, after domestic political opposition slowed the plan.

Bahraini government has expressed reservation regarding a bill to amend the budget law, obligating the Minister of Finance to present the draft budget law to the Cabinet before the end of August of the current fiscal year.

A visit by Jersey’s Prime Minister Ian Gorst to Bahrain drew criticism in Bahrain’s Parliament amid criticism from MPs.

The local Al-Ayam newspaper said that the government officially referred to the House of Representatives a bill to raise the ceiling of public debt to 13 billion BD, which is considered an unprecedented level.

Minister of Finance Ahmed bin Mohammed Al Khalifa said that the public debt has reached 9.1 billion BD until April and explained that the public debt constitutes 76% of the GDP for the year 2016.