Bahrain King Hamad bin Isa Al Khalifa on Monday issued a Decree on adding emergency expenditures to the state budget 2020.
The decree-law stipulates that an emergency expenditure of BD177,360,117 will be injected into this year’s state budget in order to deal with emergency expenditures incurred as a result of fighting the coronavirus pandemic.
He also issued Decree on managing part of the funds of the Future Generation Reserve Fund (FGRF).
It allows a deduction from oil revenues earmarked for the account of the FGRF to be suspended temporarily, until the end of the fiscal year 2020.
It also stipulates that an amount of $450,000,000 shall be drawn from the account of the Future Generations Reserve Fund for only once, and allocated to supporting the state general budget until the end of the fiscal year 2020, in order to reduce the urgent financial impacts of the novel coronavirus (COVID) -19).
The drawn amount will be covered by the end of the urgent financial situation resulting from the spread of COVID-19.
The Prime Minister and ministers, each in their capacity, will implement the decree-law that will be published in the Official Gazette.
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