The Bahraini Cabinet discussed Monday (June 12, 2017) the General State Budget for the two fiscal years, 2017-2018.

The Consolidated Financial Statement of Bahrain for the fiscal year that ended on December 31, 2016 unveiled that the oil revenues reached 1.4 billion BD, which shows a 10% drop in comparison with 2015. The non-oil revenues reached 500 million BD, which means a 3% increase. Meanwhile, the general expenses amounted to 3.5 billion BD, including the recurring expenses that recorded 3.1 billion BD and the project expenditures that amounted to 400 million BD.

Standard and Poor's (S&P) said Kingdom of Bahrain outlook revised to negative on weakening external & fiscal positions‍​. It also affirmed its rating at "BB-/B".

Bahrain's sovereign wealth fund Mumtalakat hopes to take part in the initial public offering (IPO) of shares in Saudi state oil giant Aramco, the fund's CEO told Reuters, predicting additional opportunities from the kingdom's reform programme.

Bahrain's sovereign wealth fund Mumtalakat has an "impressive" pipeline of promising investment deals in Russia, with some existing projects already offering double-digit return rates, fund CEO Mahmood Alkooheji told Reuters.

Finance Minister Ahmed bin Mohammed Al Khalifa replied to a question raised by MP about the details of unified GCC VAT agreement that will be reviewed by the House of Representatives in its next session on Tuesday (May 23, 2017) that "the basic food items, medicines and medical supplies will be excluded from the VAT that will be imposed by Bahrain along with the other GCC states."

In light of Bahrain's economy recently taking a hit from low oil prices, Bahrain economy expert said that the situation represents a challenge, but also an opportunity, clarifying that it would help “really push through economic reforms”.

Information reported that the Bahraini government paid about 395 million dinars (more than $1 billion) in 2016 as interests to lending banks.

Bahrain’s foreign-currency reserves tumbled 11 percent in February, extending a decline that has fueled speculation that the island kingdom would either tap international bond markets soon or seek financial support from other Gulf Arab monarchies, Bloomberg revealed.

Number of labourers in Bahrain protested on Saturday before the company gates they work for in the village of Jannusan, demanding that they get paid their wages that have been reportedly delayed for the past four months.

Head of Batelco Trade Union, Ali Alraqraq warned of a new wave of workers dismissals at Batelco, after the company was divided into 2 separate companies. He also expressed worry of the division’s effect on the telecom services’ prices.

The Al-Wasat newspaper said that the price of Bahrain’s crude oil extracted from Abu Saafa oilfield has reached $50 per barrel in the global markets that will witness a huge difference between supply and demand, leading to price dispersion.

The economic slowdown experienced by the GCC countries following the oil price decline and consequent fiscal tightening will continue to apply pressure on asset growth and profitability of Islamic banks in 2017 and 2018.

Bahraini Member of Parliament, and head of the Financial and Economic Affairs Committee in the council, MP Abdulrahman Bu Ali, said he would not be surprised if he received the budget and saw a reduction in current benefits.

Figures presented by the Minister of Finance, Ahmad bin Mohammad Al Khalifa to MP Ahmad Karata, showed a decrease in the future generation reserves in 2015, by more than 10 million Bahraini Dinars.

The Trade Union at Aluminum Bahrain (Alba) Company said that the trade union responded to the power outage witnessed by the company last Wednesday in a very responsible way. It also added that it was keen on reviving this vital resource of national economy.

A worker at the Aluminum Bahrain (Alba) company, said that the company suffered a real disaster on Wednesday evening (April 5, 2017) after an hours-long power outage that caused it to lose almost half its production till the next day.

General Federation of Workers Trade Unions in Bahrain expressed concern over the continued deprivation of hundreds of Bahraini and non-Bahraini workers of their wages.

Bahraini Minister of Industry and Commerce Zayed Al-Zayani said that “The Saudi market is a priority for us. The Saudi investor center was announced during the visit of the Saudi Crown Prince. This will facilitate the establishment of Saudi investor companies who owns 5% of Bahrain’s records.”

US Acting Assistant State Secretary at Bureau for Near Eastern Affairs announced that Bechtel has been selected as EPCM contractor for sixth potline for the Alba aluminium smelter in Bahrain.