Bahrain has succeeded in lowering its deficit by 35 percent to $1.38 billion in the first half of 2021, compared with the same period last year. This was stated by the country’s finance ministry in its Biannual Financial Report.
The kingdom’s revenues reached 1.119 billion dinars in H1 2021, up 23 percent from the same period last year, as oil revenues jumped 33 percent due to a rise in oil prices, while non-oil revenues increased by 4 percent, the finance ministry said.
Total actual expenditures reached 1.639 billion dinar in H1, down 4 percent compared to the same period in 2020.
Shaikh Salman bin Khalifa Al Khalifa, Minister of Finance and National Economy, said: “Strategic planning, along with the persistent dedication of Team Bahrain, has yielded tangible outcomes in the Kingdom’s path to development, buoying the economy during the COVID-19 crisis.”
According to the report, recurrent expenditure decreased by 2 percent year-on-year (Y-o-Y). This reduced the deficit by 35 percent to 520 million dinars.
