07.10.2011 - Bahrain may need Saudi help to plug budget gap
The state's foreign exchange reserves, at 1.6 billion dinars (2.77 billion pounds) as of August, are tiny compared to its wealthier Arab neighbours. Its sovereign wealth fund Mumtalakat has assets of about $9.1 billion whereas Abu Dhabi's sovereign fund, one of the world's biggest, is estimated to be worth $627 billion. "Bahrain's budget finances remain under pressure with elevated social spending against limited support from oil revenues and faltering non-oil activity," said Kubilay Ozturk, EMEA economist at Deutsche Bank in London..............................................Full Article: Source
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