Shura Council Approves Raising Public Debt Ceiling to 13 Billion BD
Shura Council approved in its session on Sunday (July 16, 2017) a bill that raises the public debt ceiling from 10 to 13 billion BD.
Merrill Lynch: Bahrain’s Economy Deteriorated More than Expected
A new report of Bank of America Merrill Lynch said that Bahrain’s economic situation is not expected to improve during the coming period.
Government Asks to Withdraw 200 Million BD from Future Generation Reserve Fund
The government referred to the House of Representatives a bill to take 200 million BD from the Future Generation reserve fund.
Bahrain Tends to Raise Public Debt Ceiling to Unprecedented Level
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.
Finance Minister: Public Debt Reached 9.1 Billion, 76% of GDP
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.
Bahrain Gov’t Refers Draft Law to Parliament Raising Limit on Debt to BD 13B
Head of the Parliamentary Financial and Economic Affairs Committee Abdul Rahman Bu Ali said that a new draft law suggests raising the bar on the state public debt from 10 billion BD to 13 billion BD.
Legislative Committee Rejects Draft Law Imposing Public Debt Limit at 60% of GDP
The Parliamentary Committee on Legislative and Legal Affairs rejected a draft law imposing a limit for the public debt not exceed 60% of the Gross Domestic Product (GDP).
Bahrain’s Consolidated Financial Statement: Public Debt in 2016 Exceeded 8.8 Billion BD
The Consolidated Financial Statement of Bahrain for the fiscal year that ended on December 31, 2016 unveiled that the oil revenues reached 1.4 billion BD, which shows a 10% drop in comparison with 2015. The non-oil revenues reached 500 million BD, which means a 3% increase. Meanwhile, the general expenses amounted to 3.5 billion BD, including the recurring expenses that recorded 3.1 billion BD and the project expenditures that amounted to 400 million BD.
Bahrain Pays Over $1B in Interest on Public Debt Last Year, Reports Suggest
Information reported that the Bahraini government paid about 395 million dinars (more than $1 billion) in 2016 as interests to lending banks.
Bahrain’s Public Debt Rises to 8.68 Billion BD at the End of November
Bahrain’s public debt continued to rise reaching 8.68 billion BD in November 2016, which constitutes 72% of the Gross domestic product (GDP).
Bahrain Approaches Banks about Sukuk Sale in Q1 2017
The Kingdom of Bahrain is in talks with lenders for an Islamic bond, or sukuk, which is expected to be issued in the first quarter of 2017, banking sources told Reuters.
Bahrain’s Debt Reaches $20 Billion and $300 Million in 2016
A report issued by Securities & Investment Company (SICO) Bahrain, mentioned that Bahrain’s debts by next year (2017) is expected to reach $808 million, at the time when the country’s public debt increased to more than $20 billion during the first half of this year (2016).
Moody's: Bahrain Registered Three International Debt Placements of $1 Billion
Moody’s said that Bahrain launched three international debt placements since beginning of year until May 2016, with total value of $1,035 billion.
Bahrain’s Public Debt Exceeds 6.6 Billion Dinars
: Recent official data showed that the public debt in Bahrain exceeded 6.6 billion dinars by the third quarter of the previous year 2015, constituting around 52% of the gross domestic product
Financial Parliamentary Commission Agrees on Raising Public Debt Ceiling to 10 Billion BD
Bahrain Mirror: The Financial and Economic Parliamentary Commission passed a decree law to raise the public debt ceiling to 10 billion Bahraini dinars instead of 7.
Bahraini Finance Ministry: Recurrent Requests of MPs Reason Behind Budget Deficit Increase
Bahrain Mirror: The Bahraini Ministry of Finance pinned the blame on the members of parliament and their “recurrent demands” for the hike in the public debt and the public budget deficit increase.
Bahrain Annually Pays 400 Million BD of Interests on Public Debt
Bahrain Mirror: A Bahraini Member of Parliament said that “the public debt has exceeded the reasonable level. We have entered a dangerous period.” The MP disclosed that 400 million BD are paid annually as interest on the public debt.