The Shura Council in Bahrain approved on Sunday, March 24, 2019, cutting 230 million dinars from the Unemployment Insurance Fund to finance the voluntary retirement program.

The majority of the ministries in Bahrain have replaced the mineral drinking water bottles whose prices range from 350 to 500 fils per small bottle with mineral water whose prices range between 50 and 100 fils per bottle only, within the framework of the budget reduction program implemented in the ministries, report the local Bahraini Akhbar Al Khaleej newspaper.

The Shura Council Services Committee approved the bill submitted by the government to fund "voluntary retirement" from the Unemployment Fund and referred it for voting.

“Once you pop, you can’t stop”: This Pringles advertised slogan applies to what the Bahraini government is doing to its citizens. The pockets of Bahrainis have been popped and devoured in the name of taxes and duties and the authorities don’t seem willing to stop anytime soon, as the government plans on collecting one billion and 100 million in two years.

Saudi Arabia and Bahrain, two representatives of the Saudi Fund for Development, and the Bahraini Oil and Gas Holding Company signed an agreement to fund oil and gas projects in Bahrain worth $300 million, in the presence of Oil Minister Mohammed bin Khalifa Al Khalifa.

Low oil prices increase the credit challenges of the Gulf Cooperation Council (GCC) states, especially Saudi Arabia, Kuwait, Oman and Bahrain, said Moody's credit ratings agency.

The Bahrain state budget for the years 2019-2020 showed no increase in non-oil revenues, which confirms the government's failure to diversify sources of income and rely on oil revenues.

The government has referred a bill as a matter of urgency that would allow the government to benefit from the surplus of the Unemployment Insurance Fund to fund the voluntary retirement program.

The Bahraini state general budget for the fiscal years 2019 and 2020 estimated the state revenues at BD 5 billion and 619 million, and BD 6 billion and 939 million, thus reaching a deficit rate of 4% for the year 2019, amounting to BD 708 million and 4.9% for the year 2020, amounting to 613 million dinars.

The budget of projects in the draft general budget decreased to 400 million dinars for the years 2019-2020 after it was at 660 million dinars in the past two years.

Saudi ambassador to Manama Abdullah Al-Sheikh said that Bahrain will receive the second payment of Gulf support "soon".

The General Assembly of the Bahrain Aluminium Company (ALBA) has approved an annual financial reward of about a quarter million BD for board members, at a time when the country is working to reduce its expenses to confront the rise of public debt.

Fitch estimated that there would be $3 billion to $5 billion outstanding external debt in the period from 2019 to 2022, noting that 8.7 thousand employees had applied for Voluntary Retirement Scheme out of about 48,000 employees, which would save an amount of 166 million dinars in 2019 (11% of the wage bill for 2018).

Minister of Shura and Parliament affairs Ghanem Al-Buainain announced the acceptance of 8025 employees in the voluntary retirement program from among the 46 government agencies offering their employees for the program.

Minister of Finance and National Economy Salman bin Khalifa Al Khalifa said that "work is underway to receive the second payment of the Gulf Support program soon".

A $10 billion bailout pledged to Bahrain - one of the Gulf's weakest economies - from Saudi Arabia, Kuwait and the United Arab Emirates is tied to a "general assessment" of its progress in rebalancing its fiscal position rather than to specific numbers, its finance minister said.

The Bahrain Central Bank Governor, Rasheed Al-Maraj, said that the Bank is actively encouraging financial institutions to merge and he expects more consolidation in to happen in the future.

Bahrain Central Bank Governor, Rasheed Al Maraj, said that the Government received back in December the first $10 billion financial support package extended to Bahrain by Saudi Arabia, United Arab Emirates and Kuwait, following the deterioration of the kingdom’s public debt situation and reluctance of investors to buy sovereign bonds offered in the market last year.

The Supreme Council for the Development of Education and Training announced during its last meeting the appointment of an experienced company to re-structure the Ministry of Education, noting that this will contribute to reducing the Education Ministry's operational expenses, and enhancing the performance of its educational and administrative bodies.

An indirect message was addressed to Bahrain's Crown Prince Salman bin Hamad Al Khalifa and his economic team. It neither came from a theocrat nor a socialist, but from the head of the International Monetary Fund Christine Lagarde: Stop using global consultancy firms.