Bahrain’s emir on Saturday issued a decree approving the addition of about $1 million to the state budget for 2001/2002, reported the Manama-based Gulf Daily News .
The money will be used for recurrent expenditure and new development projects, it said, quoting the decree issued by Sheikh Hamad bin Issa Al Khalifa.
Part of the money will be added to the budget for 2001, while the rest will go for the budget for 2002.
Finance and National Economy Minister Abdulla Saif has been authorized to use money retained from the 2000 budget on strategic projects, said the paper.
He has said oil income was projected to reach $968 million in 2001, with a similar figure in 2002, up 43 percent from projected income in the 2000 budget.
Independent economists said oil income in Bahrain was likely to exceed $1 billion in 2001.
Bahrain has projected a combined budget deficit of $833 million in 2001 and 2002 – Albawaba.com
