Bahrain's budget deficit cut

Bahrain's budget deficit for the next two years has been reduced by more than half, under measures agreed Wednesday. According to the GDN, the 2007-2008 deficit is now estimated at BD358 million - BD184 million for next year and BD174 million for 2008.

It was earlier predicted to it some BD909 million - BD439 million in 2007 and BD469.9 million in 2008.

Bahrain's Finance Minister Shaikh Ahmed bin Mohammed Al Khalifa said that the kingdom's debts were around BD1.453 billion.