VOL.XXXVI

NO.15

11-JANUARY-1993

Financial and Banking News

BUDGETS AND REVENUES

BahrainReceivesBudget Boost fromNew Oil Agreement with

Saudi Arabia

Bahrain is hoping to cut is budget deficitinhalfasa

resultofhigherearnings from the offshore Abu Safah oil

field, which it shares with Saudi Arabia.The state budget

for1993and1994,publishedon 30 December,projects deficits of BD63mn ($167mn) and BD75mn($199mn)for1993

and1994,comparedwith a provisional estimate of BD131mn ($347mn) for last year.Increasesin...