His Majesty King Hamad bin Isa Al-Khalifa has issued directives endorsing the budget bill for 2013-2014. Under the budget plan, state revenues are estimated to top BD5.584.197 billion for the fiscal years 2013-2014 – BD2.790.892 billion for 2013 and the remaining BD2.793.305 billion for 2014.
Overall state expenditure is estimated to top BD7.331.835 billion for the fiscal years 2013-2014 – BD3.624.092 billion for 2013 and the remaining BD3.707.743 billion for 2014.
Recurrent state expenditure is estimated to top BD6.209.335 billion for the fiscal years 2013-2014 – BD3.052.592 billion for 2013 and the remaining BD3.156.743 billion for 2014.
The state budget allocated for projects is estimated at BD1.122.500 billion for the fiscal years 2013-2014 – BD571.5million for 2013 and the remaining BD551 million for 2014.
Under the budget plan, it is estimated that BD42 million will be deducted from oil revenues and deposited in Future Generations Reserve Fund for the fiscal years 2013-2014 – on the basis of BD21 million each year.
The state budget deficit for fiscal years 2013-2014 is estimated to top BD1.747.638 billion – on the basis of BD833.2 million for 2013 and the remaining BD914.438 million for 2014.
The 2013-2014 state budget has allocated BD210 million for low-income families – on the basis of BD105 million each year. The 2013-2014 state budget has earmarked BD157.757 million in financial assistance to the retirees to improve their standard of living for the fiscal years 2013-2014 –BD76.955 million for 2013 and BD80.802 million for 2014.
The 2013-2014 state budget has estimated municipal revenues to stand at BD120 million for the fiscal years 2013-2014 – on the basis of BD60 million each year.
Overall municipal expenditure is estimated to top BD120 million for the fiscal years 2013-2014 – on the basis of BD60 million each year.
The Finance Minister is authorized to distribute BD273.440 million among other estimates to ministries and government departments under the recurrent budget expenditure for the fiscal years 2013-2014 – BD124.466 million for 2013 and BD148.958 million for 2014. The Prime Minister and ministers shall implement the budget bill, which shall be published in the Official Gazette.