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.

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

Bahrain’s public debt continued to rise reaching 8.68 billion BD in November 2016, which constitutes 72% of the Gross domestic product (GDP).

The Kingdom of Bahrain is in talks with lenders for an Islamic bond, or sukuk, which is expected to be issued in the first quarter of 2017, banking sources told Reuters.

A report issued by Securities & Investment Company (SICO) Bahrain, mentioned that Bahrain’s debts by next year (2017) is expected to reach $808 million, at the time when the country’s public debt increased to more than $20 billion during the first half of this year (2016).

Moody’s said that Bahrain launched three international debt placements since beginning of year until May 2016, with total value of $1,035 billion.

: Recent official data showed that the public debt in Bahrain exceeded 6.6 billion dinars by the third quarter of the previous year 2015, constituting around 52% of the gross domestic product

Bahrain Mirror: The Financial and Economic Parliamentary Commission passed a decree law to raise the public debt ceiling to 10 billion Bahraini dinars instead of 7.

Bahrain Mirror: The Bahraini Ministry of Finance pinned the blame on the members of parliament and their “recurrent demands” for the hike in the public debt and the public budget deficit increase.

Bahrain Mirror: A Bahraini Member of Parliament said that “the public debt has exceeded the reasonable level. We have entered a dangerous period.” The MP disclosed that 400 million BD are paid annually as interest on the public debt.