According to Al-Sharq Al-Awsat newspaper, chaired by the Bahraini Premier, Sheikh Khailfa Ben Salman, the Cabinet has approved the Kingdom's general budget for the upcoming two years of 2007 and 2008. A draft budget law was approved and forwarded to parliament. Priorities include housing, the economy, jobs, health, education and social services.
The 2007/2008 general budget of the Kingdom of Bahrain forecasts BD 2.88 billion ($7.6 billion) total revenues in 2007 and 2008, of which $3.8 billion in 2007 and $3.8 billion in 2008. This revenues volume is based on a $40 per barrel average oil price.