Parliamentary Financial Committee: Public Debt will Reach 9 Billion BD by end of December
2016-12-12 - 11:33 p
Bahrain Mirror: Bahraini Parliamentary Financial Committee expressed its concern about rising public debt that reached as in December 2015 about 7.2 billion BD.
The committee estimated that the debt will reach 9 billion BD in December, stating that this ratio has exceeded the 60% of the gross domestic product, which raises concerns over Bahrain's financial future in case no economic measures were taken.
The committee indicated that this ratio has its effects and consequences on the state's financial and credit status amid the public debt accelerated growth, which obliges the government to take more serious measures with respect to reducing the government's spending, determining precise amounts of money for projects compared to the actual spending rate and reordering priorities of projects.
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