The Daily Tribune – www.newsofbhahrain.com
Bahrain’s two-year state budget now awaits His Majesty King Hamad bin Isa Al Khalifa’s approval.
This came after the Shura Council yesterday unanimously approved the proposed budget for fiscal years 2021-2022 which will be referred to His Majesty King Hamad by National Assembly and Parliament Speaker Fouzia Zainal for ratification.
The budget expects total revenues to reach BD2,406 million in 2021 and BD2,457 million in 2022.
Expectations for expenditures are BD3,614 million in 2021 and BD3,569 million in 2022, producing an overall deficit of BD1,208 million in 2021, and BD1,112 million in 2022.
Finance and National Economy Minister Shaikh Salman bin Khalifa Al Khalifa said that the welfare of the citizens was the top priority in drafting the state’s general budget.
The Daily Tribune – www.newsofbahrain.com
The Government is planning to present a bill in parliament in the next few months to allow the Future Generations Reserve Fund to take higher deductions from oil sales.
The deductions will help replace money withdrawn from the fund to support the general budget as part of efforts to combat the coronavirus (COVID-19) pandemic and sustain the Kingdom of Bahrain’s economic recovery.
Finance and National Economy Minister Shaikh Salman bin Khalifa Al Khalifa said the move would boost the revenues of the fund which plays a vital role.
The current law imposes a deduction of a dollar in the event that the price of one barrel exceeds $40.
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Libya has 20,000 mercenaries: UN official
A senior UN diplomat in Libya told the Saudi newspaper Al-Sharq Al-Awsat on Friday that there are about 20,000 mercenaries in Libya.
Stephanie Williams, deputy special representative of the UN secretary-general for political affairs, stressed that these mercenaries did not enter Libya on a red carpet , saying that they have to leave as Libyans reject any foreign presence in their country .
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The UN official said that the Libyan government, headed by Abdulhamid Dbeibeh, has a great opportunity to lead the country to elections on 24 December and implement the roadmap that emerged from the Libyan dialogue.