Tag Archives: economy

Endemic Mismanagement?

The government’s consolidated closing accounts for 2009 has been released to much uproar of the press, fitfully followed up by parliamentarian chagrin and threats to question ministers and impeach them should they be found wanting. Why? Because although the authorised and assigned government budget for recurrent expenditures and projects for 2009 was BD2.484 billion, only …

Cementing the GCC ties

We’re having yet another “crisis” in Bahrain. This time, it comes in cementy flavour! FOREIGN racketeers are being blamed for a cement crisis which has crippled Bahrain’s construction industry.The suspension of supplies from Saudi is costing Bahrain’s contractors more than BD4 million a day, says sources. [GDN 12.06.08] Let me first confess that I don’t …

Will the UAE depeg?

Well… UAE Vice-President and Prime Minister Sheikh Mohammed bin Rashid al-Maktoum has confirmed the federation is considering removing the dirham’s peg to the US dollar, while saying he is confident that inflation in the federation will solve itself. I’ll take that as a “maybe“. How about Bahrain? Bahrain’s crown prince said on Saturday that even …