Bahrain adds $470m in expenditures to 2020 budget for coronavirus impact

Bahrain adds $470m in expenditures to 2020 budget for coronavirus impact

MANAMA (RAHNUMA): Bahrain will add 177 million dinars ($470 million) to its 2020 state budget in emergency expenditures arising from fighting the new coronavirus pandemic, state news agency BNA said on Monday, citing a royal decree.

To this end, $450 million will be taken as a one-time deduction from the Future Generations Fund (FGF), a fund set up in 2006 to reinvest hydrocarbon revenues, and allocated to this year’s state budget, another new decree said.

The decrees also announced a temporary halt to the allocation of oil revenues to the FGF until the end of 2020.

Bahrain has reported just under 33,000 cases of COVID-19 and 108 deaths.

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