Bahrain posted a budget surplus of $88 million in the middle of the year, with Gulf state revenues up 52 percent from the same time last year.
The Gulf’s smallest oil maker remains committed to executing its balanced budget plan and adopting projects that meet its goals, Finance Minister Sheikh Salman Al Khalifa told Bahrain’s official news agency.
Spending reached $4. 4 billion in the first part of the year, a 2% increase from 2021. The country had a deficit of $1. 38 billion last year.
In March, Sheikh Salman said he was confident emerging oil costs would help officials achieve their goal of balancing the budget through 2024.
Bahrain earned $10 billion in financial assistance in 2018 to address higher levels of debt and budget deficits. At the time, officials presented plans to balance the budget through 2022, and then postponed that goal.
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