Saudi Arabia, Kuwait and the UAE have pledged a $10bn financial aid package to support Bahrain’s fragile finances and finalized a $2.5bn financial assistance program to Jordan to shore up its ailing economy.
Bahrain’s economy has struggled following protests in 2011 and the mid-2014 collapse in oil prices, and it had to resort to debt to finance its budget deficit projected at $3.5bn in 2018. The three Gulf allies, who had pledged in June to support Bahrain’s economic reforms and fiscal stability, have now come up with their package. (CONTINUED - 386 WORDS)
