Middle East Economic Survey


No 1



High Oil Revenues Wipe Out Bahrain Budget Deficits

The high price of oil in 2004 and the subsequent unexpected high level of revenue are having a positive effect on Bahrains economy and have wiped out the planned deficit in the countrys 2004 budget, Finance Minister Abd Allah Saif told parliament on 14 December. Budgeted oil revenue for 2004 was BD490mn ($1.3bn), while actual revenue for the first nine months of the year...