Manama: Bahrain's budget deficit for 2015 and 2016 combined could reach BD5 billion due to the global slump in oil prices, it has been claimed.
The total deficit for both years was originally forecast at around BD3 billion, based on a projected oil price of $60 per barrel.
However, with Brent crude now valued at around $29 per barrel - having dropped below $30 per barrel for the first time in 12 years - Shura Council Financial and Economic Affairs Committee Chairman Khalid Al Maskati said the deficit could widen by as much as 66 per cent.
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