DUBAI: Bahrain issued BD150m ($397.9m) in three-year government development bonds, a central bank statement said yesterday.
The expected interest rate on the bonds is 2.90 percent, said the central bank, which issued the bonds on behalf of the government. The issue was oversubscribed, receiving bids of 335 million dinars.
Bahrain’s state spending is expected to jump 11 percent this year, by more than originally planned, after parliament last month approved BD174.2m in additional expenditure. The budget deficit is now officially projected at BD833.2m in 2013, rising to BD914.4m in 2014.
Reuters
