Bahrain’s trade deficit dropped by 88 percent in the first quarter of 2002, from 139.5 million Bahraini dinars ($370 million) in the first quarter of 2001 to BD16.7 million. The deficit drop was attributed to a sharp decrease in oil earnings reaching BD252 million compared to BD341 million during the same period last year.
The Bahraini Cabinet recently approved a draft state budget prepared in cooperation with the World Bank. The budget projects a deficit of BD260 million ($689 million) for fiscal year 2003 and BD266.9 million in fiscal year 2004. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
