The Bahraini government has approved measures to reduce spending of ministries and government agencies by 30 percent in order to reduce the economic repercussions of the outbreak of the newly created Coronavirus.
The government announced that it would also reschedule some government projects to avoid spending out of line in the budget set for this year and to make room for other requirements imposed by the outbreak of the new Coronavirus.
In this context, Yasser bin Isa Al-Nasser, the Secretary-General of the Council of Ministers pointed out to the Council’s approval to reschedule some of the construction and consulting projects, in order to absorb emergency and emerging expenses to address the prevention of the spread of the Coronavirus within the ceiling of the general expenses budget for the fiscal year 2020.
Bahrain obtained a loan of about one billion dollars from the International Monetary Fund to repay the maturity bonds at the end of March after Bahrain suspended its plans to issue international bonds due to bad market conditions.
Source (London Arab newspaper, Edited)
