FINANCIAL NEWS

Bahrain sets USD16.4b budget for 2 yrs

06 Jun 2011

(MENAFN) A government official announced that King of Bahrain, Hamad bin Isa Al Khalifa, passed the suggested 2011 and 2012 budget totaling to USD16.44 billion, reported Reuters.

The official pointed out that the new approved budget reflects a 44 percent hike in spending compared to a year before.

The official cited such a high increase in budget to the political unrest that took over the country back in February, as the country has a high subsidies bill as well as a struggling banking sector.

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