We noticed you're blocking ads.

Keep supporting great journalism by turning off your ad blocker.

Questions about why you are seeing this? Contact us

Font Size

- Aa +

Wed 7 Jan 2009 12:14 PM

Font Size

- Aa +

Bahrain's budget to look at oil price of $40 and $45

A budget debate will tackle disputes between gov't departments over oil price figure.

Bahrain's prime minister is to hold talks on whether to base the country's upcoming budget on the price of oil being $40 or $45 a barrel, it was announced on Wednesday. Prime Minister Shaikh Khalifa bin Salman Al Khalifa is set to meet parliament's financial committee to discuss the issue, according to Bahrain daily, the Gulf Daily News.

"The meeting will tackle the dispute between the committee and the finance ministry and will discuss the budget based on an oil price of $45 a barrel instead of $40," the newspaper reported.

A suitable budget allocation for the houses renovation scheme, inflation allowance, education and health sectors will also be discussed

In October, the same newspaper reported that Bahrain would base its 2009-2010 budget on an oil price of $60 a barrel.

Bahrain, a Gulf oil producer, is not a member of the Organization of Petroleum Exporting Countries.

Oil prices have tumbled almost $100 a barrel from a July peak above $147 - currently sitting at around $49 a barrel.

Arabian Business: why we're going behind a paywall

For all the latest energy and oil news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Real news, real analysis and real insight have real value – especially at a time like this. Unlimited access ArabianBusiness.com can be unlocked for as little as $4.75 per month. Click here for more details.