The Ministry of Finance and National Economy of Bahrain announced an increase in government revenues and a reduction in the budget deficit, the Arabian CNBC service reports. According to the preliminary financial results of 2022, which became known yesterday, the treasury did not receive 178 million Bahraini dinars, while experts predicted a deficit of 1,185 million.
The relevant department links the improvement of the economic situation in the country with the implementation of the goals of the budget balance, as well as the execution of government projects. According to CNBC, government revenue increased by 33% compared to 2021, and the growth of funds received was mainly due to the sale of oil.
“According to the preliminary financial statements for 2022, total oil revenues increased by 58% compared to budget estimates and by 36% compared to actual results for 2021,” the report says. This column of the state budget also showed an increase of 28% over the year.
The material was collected and processed by Sofia Chernopyatova
