Manama, Feb. 9 -- The Kingdom has maintained strict fiscal discipline in 2020 and remains committed to continuing its fiscal balance program to achieve its medium-term targets.

This came as the Ministry of Finance and National Economy (MOFNE) announced its preliminary fiscal estimates for 2020, noting that despite the twin shocks of the COVID-19 pandemic and lower oil prices the fiscal balance programme remains

The Ministry announced that preliminary data for 2020 showed that total public revenues amounted to BD 2,139 million, a decrease of BD 807 million compared to the approved budget.

The Ministry also highlighted that the decline was driven by lower global oil prices, adding that oil revenues amounted to BD 1,250 million, a 40% decre...