MANAMA: Bahrain’s budget deficit will more than halve in 2021, below 8 per cent of GDP, says Fitch Ratings.
In the Mena Sovereign Credit Overview 4Q21 report released yesterday, the US-based ratings agency has forecast the country’s deficit narrowing to just under 7pc of GDP in 2022-2023, including 2pc-of-GDP of extrabudgetary spending, helped by the doubling of the VAT rate to 10pc .
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