FINANCIAL NEWS

Bahrain’s foreign reserves split since 2014

06 Oct 2016

(MENAFN) Bahrain’s foreign reserves halved since the end of 2014 as low oil prices slash the value of the country”s exports.

On the other hand, the government has been growing its debt issues in order to finance a budget deficit made by cheap oil and it sold USD1bn of Islamic bonds.

However, gross foreign reserves including, gold shrank to USD2.78bn on June 30 this year from USD3.39bn at the end of last year.

Meanwhile, its recent account balance, which involves trade in goods and services dropped into USD79mn deficit last year from USD1.52bn surplus in 2014.

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