Oil prices included in Bahrain’s 2013-2014 state budget and estimated at $90 per barrel are feasible and reflect market predictions, said a top government official.
MP Latifa Al Gaoud was speaking as he chaired the parliament and Shura Council financial and economic joint committee meeting in the presence of the Finance Minister, according to a report in our sister publication the Gulf daily News.
Direct and indirect total government subsidies for citizens for 2013 reached BD1.501 billion ($3.95 billion) and BD1.583 billion for 2014.
The meeting also agreed to separate accounts of Bahrain petroleum Company (Bapco) from the Finance Ministry for better transparency and also include revenues and expenses of Municipalities and Urban Planning Affairs Ministry in the state budget, reported our sister paper Akhbar Al Khaleej.
