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.
Bahrain reports 500 new coronavirus cases, total active cases: 4,653Bahrain reported on Wednesday 500 new coronavirus cases and zero deaths, according to the country’s Ministry of Health, bringing the total number of ... Coronavirus
Iran seeks to undermine Bahrain’s security via proxy arms: US state departmentIran has sought to undermine Bahrain’s security by providing arms to proxy and terror groups, the United States said in a joint statement as its envoy ... Gulf
Coronavirus: Bahrain to pay half of wages to help COVID-19 hit private firmsBahrain’s government said on Monday it would pay 50 percent of salaries for private company workers in sectors that were hard-hit by the coronavirus ... Coronavirus