Bahrain Gov't Revenue down 29% in First Half of 2020
2020-08-11 - 2:47 p
Bahrain Mirror- Reuters: Bahrain's government revenue fell 29% in the first half of 2020 on the back of low oil prices and the coronavirus pandemic, the country's state news agency said on Monday.
The Gulf country's oil revenue dropped 35%, while its non-oil revenue was down 13%, BNA said. Government spending increased 2% in the first half.
In July, Bahrain said it would add around 177 million dinars ($470 million) to its 2020 state budget in emergency spending to fight the new coronavirus pandemic.
Bahrain's fiscal deficit is seen widening to 12% of gross domestic product this year from 4.6% in 2019, largely due to lower oil prices, S&P Global Ratings said in May.
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