Bahrain 2015-16 Budget Deficit Soars

Bahrain’s council of ministers last week approved a two-year budget for 2015-16 with a 74% rise in the projected deficit to BD3.04bn ($8.05bn) compared to the aggregate deficit for the two previous years (see table).

Unveiling the budget, Finance Minister Shaikh Ahmad Al Khalifa said the focus in the next two years will be on “discipline spending and economic growth,” without undermining the wellbeing of citizens. He adds that...