Bahrain Says Gulf Support is Long-Term “Benevolent Loans”
2019-01-28 - 8:03 p
Bahrain Mirror: The government said its funding needs until 2022 amount to about 20 billion US dollars, and Gulf financial support covers (50%) of this need.
It stressed that the Gulf support provided to Bahrain within the financial balance program is benevolent loans that Bahrain will pay on the long term.
This financial support would be exploited for two main needs, represented in covering the accrued share of public debt during the program period, and finance the deficits of the public budget until 2022.
The Government delegation considered that the failure to meet these needs would have negative repercussions on Bahrain's classification and its borrowing capacity, and there would be monetary pressure on price stability.
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