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Bapco to contribute $1bn to Bahrain budget

1129 Views 2 Replies 2 Participants Last post by  Bahraini Spirit
Bahrain's Bapco is to pump BD392 million ($1.04 billion) into the kingdom's coffers, thanks to bumper oil prices. The national budget will now include revenue from Bapco of BD196 million each for this year and next, it was announced yesterday.

This is several times the original conservative estimates, said Finance Minister Shaikh Ahmed bin Mohammed Al Khalifa.

He was speaking at a Press conference following a meeting with parliament's financial and economic affairs committee chairman Jehad Bukamal.

This followed a disagreement over the figures, when the government listed in the budget Bapco's estimated revenue for this year at BD44 million, while the committee said it should be BD260 million.

It was agreed yesterday to list the revenue as BD196 million each for this year and next.
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Basically what it says that over 2 years, $1 bn from the money Bapco is makin will be included in the country's budget over a 2 year period ($500 million each year).
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