HM the King issues law 14 for 2015

Manama, July 13 (BNA): His Majesty King Hamad bin Isa Al Khalifa issued law 14 for 2015 approving the state’s general budget for the two fiscal years 2015 and 2016. The state’s revenues in the budget of the two fiscal years 2015 and 2016 is estimated at ((4.274.863.000 dinars (four billion two hundred seventy-four million eight hundred and sixty-three thousand dinars): (2.097.329.000) dinars (two billion ninety-seven million three hundred and twenty-nine thousand dinars) for 2015 and (2.177.534.000) dinars (two billion one hundred seventy-seven million five hundred and thirty-four thousand dinars for 2016 according to the two tables 1 and 2 attached to this law. The state’s overall expenditure in the budget of the two fiscal years 2015-2016 is estimated at (7.284.136.000) dinars (seven billion two hundred eighty-four million one hundred and thirty-six thousand dinars: (3.601.586.000) dinars (three billion six hundred and one million five hundred and eighty-six thousand dinars) for 2015 and (3.682.550.000) dinars (three billion six hundred eighty-two million five hundred and fifty thousand dinars for 2016 according to table 1 attached to this law. The state’s recurrent expenditure in the budget of the two fiscal years 2015-2016 is estimated at (6.374.136.000) dinars (six billion three hundred seventy-four million and one hundred thirty-six thousand dinars): (3.156.586.000) dinars (three billion one hundred fifty-six million five hundred and eighty-six thousand dinars) for 2015 and (3.217.550.000) dinars (three billion two hundred and seventeen million five hundred and fifty thousand dinars) for 2016 according to tables 1 and 3 attached to this law. The state’s projects expenditure in the budget of the two fiscal years 2015-2016 is estimated at (910.000.000) dinars (nine hundred and ten million dinars): (445.000.000) dinars (four hundred and forty-four million dinars) for 2015 and (465.000.000) dinars (four hundred and sixty-five million dinars) for 2016 according to tables 1 and 4 attached to this law. Amounts from oil revenues pumped into the reserve account of the future generations in the budget of the two fiscal years 2015-2016 is estimated at (41.282.000) dinars (forty-one million two hundred eighty-two thousand dinars): (20.641.000) dinars (twenty million six hundred forty-one thousand dinars) for 2015 and 2016 according to table 1 attached to this law. The budget deficit in the budget of the two fiscal years 2015-2016 is estimated at (3.009.273.000) dinars (three billion nine million two hundred and seventy-three thousand dinars): (1.504.257.000) dinars (one billion five hundred and four million two hundred and fifty-seven thousand dinars) for 2015 and (1.505.016.000) dinars (one billion five hundred and five million and sixteen thousand dinars) for 2016 according to table 1 attached to this law. The deficit shall be covered by borrowing from financial institutions and Arab and Islamic funds. All revenues included in table 2 attached to this law shall be dealt with according to financial regulations and paid to the public account. Expenditure included in tables 3 and 4 attached to this law shall be paid out according to the budget’s divisions and instructions. Funds shall be used only in what they have been earmarked for and according to the fixed amounts. The municipal and capital revenues in the budget of the two fiscal years 2015-2016 are estimated at (116.800.000) dinars (one hundred sixteen million and eight hundred thousand dinars): (58.400.000) dinars (fifty-eight million four hundred thousand dinars) for 2015 and 2016, according to table 5 attached to this law. The municipal and capital budget shall be implemented according to the provisions of the Municipalities Law. The Minister of Finance has the prerogatives, while implementing the budget, to distribute the amount of (116.094.000) dinars (one hundred sixteen million and ninety-four thousand dinars), earmarked as part of other estimations for ministries and government bodies in the budget of recurrent expenditure for the two fiscal years 2015-2016: (18.522.000) dinars (eighteen million five hundred twenty-two thousand dinars) in 2015 and (97.572.000) dinars ( ninety seven million five hundred seventy two thousand dinars) in 2016. The Minister shall inform the Cabinet as well as the Shura and Representatives Councils about distribution of those amounts and readjust the figures of the recurrent budget accordingly. The Minister of Finance shall issue the needed instructions to implement the budget within the regulations stipulated by this law. The Prime Minister and the ministers have to enforce the law which shall be promulgated in the Official Gazette.