Bahrain’s cabinet has approved a draft budget for 2019 and 2020, which projects a reduction in its budget deficit and a rise in the state’s revenues, according to a government statement.
Bahrain’s revenues are expected to reach 2.74 billion dinars ($7.27 billion) in 2019 and 2.87 billion dinars in 2020, the statement said.
Spending will hit 3.25 billion dinars in 2019 and 3.28 billion dinars in 2020. The draft also says public investment will reach 670 million in 2019 and the same amount will be allocated for 2020.
The budget deficit is expected at 708 million dinars in 2019 and 613 million dinars in 2020.
Bahrain released a 33-page fiscal plan last year after signing an agreement with its Gulf neighbors, which have provided a $10 billion aid package, to fix its debt-burdened finances and eliminate its budget deficit by 2022.