Manama, August 15 (BNA) The Ministry of Finance and National Economy has released the financial report of the Kingdom of Bahrain for the mid-year 2022. The latest indicators indicate the strong economic recovery of the Kingdom after Covid, with a total surplus of $88. m is published and revenue increased by 52%.
Main results:
Actual revenue collected increased by 52% compared to the same period in 2021
Actual expenses amounted to BD1.6 billion ($4.4 billion) – an increase of only 2% compared to the same period in 2021.
The total surplus for the semi-annual closing amounted to BD33 million (US$88 million) – an increase from a deficit of BD520 million (US$1.38 billion).
After the strong growth of 5.5% in the first quarter of 2022 for the Bahraini economy, the mid-year financial report is an additional indication of the Kingdom’s financial recovery after Covid.
Commenting on the report, His Excellency Sheikh Salman bin Khalifa Al Khalifa, Minister of Finance and National Economy, said:
“These results are clear evidence that the government’s disciplined approach to fiscal responsibility and long-term sustainability has proven effective. Government initiatives to further diversify the economy and attract investment are having a positive impact and will provide the foundations for further growth for years to come.
“While today represents an opportunity to recognize measurable progress, Bahrain will continue to develop innovative policies to enable private sector growth and support the Kingdom’s entrepreneurial spirit.”
M