Bahraini Gov’t Borrowed 1.671 Billion BD during 2015
2015-12-22 - 1:52 am
Bahrain Mirror: Official reports showed that the Bahraini Government borrowed during a single year (2015), a total of 1 billion and 671 million Bahraini dinars, what is equivalent to 15% of the country's gross domestic product (GDP).
The reports published by the local Al-Wasat newspaper indicated that the governmental estimates of the public debt by the end of this year (which has only 10 days left) show that it will reach 7 billion and 245 million dinars, while it amounted to 5 billion and 573 million dinars by the end of 2014. This confirms that the government borrowed more than a billion and half million dinars within just one year.
The Finance Ministry reports' submitted to the parliament during this month (December 2015) revealed that "the public debt between 2010 and November 2015 reached 7.195 million dinar; local loans formed 57% while foreign loans amounted to 43%". The ministry explained that total public debt is expected to reach 7.245 million dinars by the end of 2015, and that the average of the annual increase of public debt reached 18%.
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