Bahrain The General Budget: The Oil Revenues Decline by 44.6% and The Fuel Support by 80%

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SHAFAQNA – The initial financial estimates of Bahrain’s general budget for the two fiscal years 2015/2016 showed a decline in the oil and gas revenues by 44.6% in comparison with 2013/2014. On the other hand, non-oil revenues rose in the expected budget to 6.5% as to the previous budget, reaching 740 million Dinars after being 692 million. It was obvious in the state’s general budget enlisted in the MPs agenda in their Tuesday session (12 May 2015), that is to be referred to the committee on finance and economic affairs in its original state and the committee on legislation and legal affairs to comment on, a drop in the oil and gas products support in the domestic market by 80% in the current budget as to the former one, where it reached more than a billion Dinars previously and became only 208 million this year.

The reserves of the future generation in the coming budget witnessed a slight decrease with respect to last year’s one by 1.7%. Besides, the net outcome of gas and oil dropped by 28% and so was the case with subsidies income that dropped by 25%.

The total revenue scored about 4 billion and 254 million Dinars in the current budget, whereas it used to be 5 billion and 578 million Dinars in the previous one; thus declining by 23.7%.

 

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