Bahrain deficit narrows

Bahrain said on Monday it had narrowed its budget deficit to 404 million Bahraini dinars ($1.07 billion) in the first half of 2019 from 650 million dinars in the same period a year earlier.

The kingdom is “well ahead of its projected deficit reduction schedule”, the Ministry of Finance and National Economy said in a statement carried by Bahrain News Agency.

Bahrain, which does not benefit from the vast oil wealth of other Gulf Arab states, last year released a plan to fix its debt-burdened finances after securing a $10 billion Gulf aid pledge. It aims to eliminate its budget deficit by 2022. (RTRS)