NO. 17


Financial and Banking News

Debt Ceiling to Be Raised to Finance Bahrain's $159mn Budget Deficit in1988

The Bahraini Government on 27 January approved a BD490mn ($1,299mn) budgetfor the fiscal year 1988, with total revenues estimated at BD430mn ($1,140mn)and a deficit of BD60mn ($159mn) to be financed by domestic borrowing. This isthe first time that Bahrain has issued a one-year budget, having abandoned itsprevious practice of budgeting for a two-year period...