Bahrain's His Majesty King Hamad bin Isa Al Khalifa last night (March 30) ratified and issued a law approving the general state budget of BD7.182 billion ($19 billion) for the fiscal year 2021-22. Of this, BD3.614 billion is for 2021 and BD3.568 billion for 2022.

 

The law has already been approved by the two chambers of the National Assembly, reported BNA, citing a senior minister.

 

Unveiling the budget details, Finance and National Economy Minister Shaikh Salman bin Khalifa Al Khalifa said the estimated revenues for the fiscal years 2021-2022 stand at BD4,863,012,000 with the 2021 figures of BD2,405,881,000 and BD457,131,000 for 2022.

The state budget plan outlined the overall public revenues and spending regarding ministries and government agencies and their recurrent expenditures, in addition to direct government support data, project expenditures by ministries and government agencies, revenues and expenditures of municipalities and the Capital Municipality.

 

According to him, the estimated sums which will be transferred from the oil revenues to the Future Generations Reserve Account stand at BD 41,172,000 - BD20,586,000 for 2021 and the same amount for the fiscal year 2022.  

 

The deficit in the state budget for the fiscal years 2021 and 2022 is estimated at BD2,319,413,000 -  BD1,207,885,000 for 2021 and BD1,111,528,000 for 2022, he added.