Bahrain Revenues to Rise by 1.8% as VAT Increases to 10%: Moody's
Moody's Agency predicts that Bahrain will be able to increase the Value Added Tax from 5% to 10% at the beginning of next January, to increase state revenues by about 1.8% of GDP.
Fitch: Mumtalakat Debts Reach BHD643 Million
Fitch Ratings has affirmed Bahrain Mumtalakat Holding Company's (Mumtalakat) Long-Term Issuer Default Rating (IDR) and senior unsecured rating at 'B+'. The Outlook is Stable.
Bahrain without 2021 Fiscal Balance, Deficit Reaches 3.4 Bln and Public Debt without Ceiling, Who Protects Citizens?
Raising Bahrain's public debt ceiling to 15 billion dinars ($39.682 billion) puts further pressure on the country's public budget, while plans to pay off accumulated debts since Hamad bin Isa Al Khalifa took office in 1999 are absent.
Bahrain to Borrow BD300 Million in 2021 to Cover Budget Deficit: Finance Ministry
The Shura Council's financial and economic affairs committee recommended the approval of a decree that raises public debt ceiling from BD13 to 15 billion.
Bahrain: Parliament Approves 2021-2022 Budget with Deficit Reaching 1.2 Million BD
The House of Representatives approved (Tuesday, March 2, 2021) the State Budget draft for 2021-2022
Bahrain's Economy to Grow 3.3% this Year, must Cut Public Debt: IMF
Bahrain's economic recovery from the COVID-19 pandemic will be gradual, with growth projected at 3.3% this year after a 5.4% contraction in 2020, the International Monetary Fund said on Sunday.
Bahrain will Likely Need further Gulf Financial Support - Fitch
Bahrain will likely need further financial support from its Gulf neighbours despite reform measures, Fitch Ratings' lead Bahrain analyst Toby Iles said on Monday.
Bahrain Gets $2 Billion in Bond Sale after Deficit Spike
Bahrain sold $2 billion in three-tranche bonds on Wednesday, a document showed, after the coronavirus pandemic and low oil prices exacerbated its fiscal deficit and pushed total outstanding debt to nearly $40 billion.
Finance Minister Says Public Debt Interests would Reach BD700 Million in 2021
Minister of Finance and National Economy Salman bin Khalifa Al Khalifa said that the public debt interest in 2021 new budget represents more than 700 million dinars and will exceed 750 million dinars in 2022.
Supporting Countries to Postpone Scheduled Aid Payment to Bahrain due to Coronavirus
Cross-cutting sources said that the Gulf countries supporting Bahrain recently announced the postponement of a payment scheduled last September under the financial balance program.
Al-Wefaq: New Public Budget Reinforces Failure and Debts, and Further Burdens Citizens
The Al-Wefaq National Islamic Society stressed that the draft state budget of 2021/2022, which was presented by the government on Sunday, November 29, 2020, reflects a reinforcement of the policy of failure in running the state and weakness in competence.
Bahrainis Reject Netanyahu's Visit to Manama: Al-Wefaq
Al-Wefaq Society issued a comment on a number of topics in which it affirmed that it rejects the visit of Zionist prime minister to Bahrain and its commendation of the sectarian rulings issued by the regime's courts against citizens of a certain sectarian component for reasons related to freedom of religion and belief.
Bahrain's Public Debt will Hit 131% Next Year
Bahrain's public debt will reach 131% of GDP next year, according to new figures published by "The Economist".
Bahrain's Foreign Reserves Fall, Debt Increases amid Delay in Gulf Aid Payments
In Bahrain, additional data and news indicate that the financial crisis has intensified as the government has asked a US company to review the fiscal balance program, the main plan for fiscal management, supported by three Gulf allies.
Central Bank of Bahrain Expects Public Debt to Reach 110% of GDP
A recent report from the Central Bank of Bahrain predicted that government debt will represent 110% of GDP by the end of this year, with a decline to about 105% in 2021.
Bahrain's Economy Shrank by 8.9% in Second-Quarter amid Coronavirus Restrictions
Bahrain's economy contracted by 8.9% year on year in the second quarter, government data showed on Sunday, as the small Gulf state suffered from restriction measures to contain the new coronavirus.
Bahrain Sells $2 billion in Sukuk and Bonds
Bahrain sold $2 billion in a dual-tranche bond deal comprising seven-year sukuk and 12-year conventional bonds on Wednesday, its second international debt sale this year, a document showed.
Bahrain Plans Return to Debt Market With Mix of Bonds, Sukuk
Bahrain is planning to return to the dollar bond market, according to people familiar with the matter, as the country faces one of the world's biggest budget deficits this year, Bloomberg website stated.
Bahrain Raises Debt Ceiling to 15 Billion Dinars to Finance Public Spending
Bahrain's government has raised its debt ceiling to 15 billion dinars ($39.79 billion) from 13 billion dinars to help finance public spending, the cabinet said Monday, as low oil prices and the coronavirus crisis have dented state revenues.
Bahrain Credit Rating Equal to that of Egypt, Bolivia and Jamaica...Public Debt Increases to 130%
Fitch cut Bahrain's sovereign rating one step to B+, leaving it four levels below investment grade and on par with Egypt, Bolivia and Jamaica. The outlook is stable.