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DUBAI (Reuters) – Bahrain announced Monday it has reduced its budget deficit to 404 million dinars (1.07 billion dollars) in the first half of 2019, against 650 million a year earlier.
"The Kingdom is moving much faster than expected to reduce the deficit," the Bahraini news agency said, citing a statement from the Ministry of Finance and National Economy.
Bahrain, which does not have huge oil wealth like that of other Gulf states, announced last year a plan to clean up its heavily indebted public finances after securing a pledge of $ 10 billion from the Gulf. Bahrain aims to eliminate the budget deficit by 2022.
(USD = BD 0.3768)
(Reuters)
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