Bahrain: Gov’t Revenues Down 29 Percent in H1 Due to Low Oil Prices

Bahrain: Gov’t Revenues Down 29 Percent in H1 Due to Low Oil Prices

Bahrain's ministries and government agencies have indicated a revenue of BD910 million ($2.39 billion) during the first half of the year (H1), a decrease of 29% in comparison to the same period last year, according to a new report.

Due to low oil prices, oil revenue decreased by 35%, in comparison to the same period during the fiscal year of 2019, reported Bahrain News Agency (BNA), citing the biannual financial report 2020 for ministries and government agencies issued by the Ministry of Finance and National Economy.

The Minister of Finance and National Economy Shaikh Salman bin Khalifa Al Khalifa highlighted that despite the challenges presented by the drop of oil prices globally and Covid-19, the Kingdom continues its commitment to achieving all comprehensive development goals.

Shaikh Salman noted that the cohesive efforts of Team