Gov't Companies Directly Borrowed from External Funds, Didn't Include their Debts in Public Debt
2019-10-24 - 6:44 p
Bahrain Mirror: National Audit Office report said that the Finance Ministry and some government parties and companies directly borrowed from external funds without including their debts in the public balance registered in the Ministry of Finance and the National Economy.
The report stated that this doesn't reflect the real image of the public debt.
The ministry's total public debt amounted to 12,441,098.043 billion dinars, while real debt, after adding foreign debt, amounted to 13,983,856.115 billion dinars.
In its recommendation, the office stressed the need to take more effective measures to control levels of public debt, in order to tighten control over it and ensure that it is managed on economic and regulatory grounds.