Good financial monitoring in Bahrain
Bahrain, Economics, 4/1/1999

In a statement, the US Moody's Investors Service said that Bahrain practices good auditing and monitoring of its public expenditures, noting that Bahrain's internal and external debts are at a low level.

The agency added that the reduction in oil prices would have an adverse impact on Bahrain's budget, for which the non-oil revenues would not be able to compensate. The agency said that in general, "Bahrain carries out wise administration of its monetary system and keeps a low rate of foreign and internal debts."

The agency added, thanks to the support of the neighboring countries, there is a good control on public expenditures.

Bahrain is the only Arab Gulf state which does not export crude oil. Its oil production, which is estimated at 37,000 barrels every day, is entirely dedicated to local consumption.

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