Coronavirus: Bahrain adds $470 mln in COVID-19 impact spending to 2020 budget

Published: Updated:
Enable Read mode
100% Font Size

Bahrain will add around 177 million dinars ($470 million) to its 2020 state budget in emergency spending on fighting the new coronavirus pandemic, state news agency BNA said on Monday, reporting a royal decree.

To this end, $450 million will be taken as a one-time deduction from the Future Generations Fund (FGF), a fund set up in 2006 to reinvest hydrocarbon revenues, and allocated to this year’s state budget, another new decree said.

The decrees also announced a temporary halt to the allocation of oil revenues to the FGF until the end of 2020.

For more coronavirus news, visit our dedicated page.

The small oil producing Gulf state was bailed out in 2018 with a $10 billion aid package from wealthy Gulf neighbors to avoid a credit crunch and has been working to plug its budget deficit.

Bahrain has reported just under 33,000 cases of infection with the coronavirus and 108 deaths.

For all the latest headlines follow our Google News channel online or via the app.

Read more:

Coronavirus: Bahrain-Saudi Arabia King Fahd bridge to reopen after Eid, says report

Coronavirus: Bahrain to spend $570 mln on salaries for 100,000 employees

Top Content Trending