(MENAFN) The government of Bahrain is presently planning to reduce its public spending by about USD643.7 million by the end of this year, according to resources who preferred to remain unidentified, Zawya reported.
The source added that expenditure over public projects amounted to USD2.97 billion during 2013 and 2014. Moreover, the Kingdom is forecast to remove its subsidies over fuel and electricity.
"The lifting of subsidies will affect everyone. However, there will be a mechanism to compensate citizens, although that mechanism is still unclear at this stage," the undisclosed source stated.
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