Bahrain to Add USD 470 million to its State Budget Counter the COVID-19 Pandemic

Local media reports citing a royal decree on the 12th of July 2020, stated that the Government of Bahrain is set to add in USD 470 million (BHD 177 million) in emergency funding to its 2020 State budget, which will go towards dealing with the impacts of the on-going COVID-19 pandemic.

According to a new decree, USD 450 million will be taken as a one-off deduction from the Future Generations Fund (FGF) and added onto to the current years’ state budget.

The FGF was set up in 2006, as a fund to reinvest hydrocarbon revenues.

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