Economy Bahrain’s preliminary estimates show deficit falls 85% in 2022 By Reuters February 21, 2023 Reuters/Hamad I Mohammed The golden licence is part of the priorities of the government’s economic recovery plan Bahrain’s preliminary financial estimates for 2022 showed the deficit decreased by 85 percent, the finance ministry said in a statement on Monday. Total oil revenues increased by 58 percent compared with budget estimates, according to the statement. The country’s total public revenues increased by 42 percent to 3.490 billion dinars ($9.26 billion) compared with budget estimates, it added. “The total fiscal deficit decreased by 85 percent to 178 million dinars, compared to the budget deficit estimate at 1.185 billion dinars”, according to the statement. In August 2022, Bahrain’s finance ministry said the budget surplus was 33 million dinars ($88 million) in the first half of 2022 from a deficit of 520 million dinars a year earlier. The data also showed total public revenues at 1.698 billion dinars, up 52 percent year-on-year, while total expenditure stood at 1.665 billion dinars in the first six months, an annual increase of 2 percent. Bahrain initially expected a significantly narrower budget deficit for the first half of 2022 due to high oil prices.