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Contrary to Fiscal Deficit Narrative, Nasser Al Khalifa Announces 125% Increase in Bahrain's Oil Profits
2023-05-18 - 7:56 p
Bahrain Mirror: The Chairman of the Board of Directors of the Oil and Gas Holding Company, Nasser bin Hamad Al Khalifa, revealed that the company "achieved a significant profit of 125%, mainly driven by the increase in production and increase in oil prices from $ 66 to $ 95 per barrel, during the past year" 2022.
It is worth noting that Nasser Al Khalifa's statement contradicts the Bahraini government's announcement on a fiscal deficit in the budget and low fiscal surplus, at a time poverty among citizens and unemployment are increasing.
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