According to the report of the Financial and Administrative Oversight Bureau for the years 2021 and 2022, Bahrain's public debt and interest rates have reached catastrophic numbers. The report indicates that the government has turned Bahrain into a sick country addicted to debt and aid.

The big question remains in the minds of citizens: Why does the government of Bahrain continue to issue sukuk and borrow despite the high oil prices and the large amount of liquidity generated from the oil trade?

Minister of Finance Salman bin Khalifa Al Khalifa said that the government will implement projects worth $782.4 million within the two coming years, among the last batch of Gulf development program "Gulf Marshal" that was approved for the island kingdom in 2011. The projects will include vital sectors.

The story of the Financial Balance Program started in October 2018 and ended in October 2020.

The Tender Board opened a tender for the Housing Ministry with a support from the Saudi Fund for Development to build 71 "DANA-A" houses, 123 "DANA-C" houses at site 229, block 225 in Al-Qalali, and to build 111 "DANA-A" houses and 112 "DANA-C" houses at site 239, block 930 in Wadi Al-Sail, Riffa.

Has Bahrain lost control of its public debt? The sharp rise in government debt can't be attributed only to the fall in oil prices, but also to several other factors, most notably the political turmoil and failure of the government's economic policies.

The budget approved by the Government did not contain any information on the Gulf support allocated by 3 States to Bahrain, which raises many questions on the disbursement mechanisms and implementation monitoring.

Bahrain said it received $2.3 billion last year and is expecting another $2.28 billion in 2019 under an agreement with its Gulf allies to bail it out of a deficit, the government said on Thursday.

Saudi ambassador to Manama Abdullah Al-Sheikh said that Bahrain will receive the second payment of Gulf support "soon".

The Central Bank of Bahrain (CBB) lost 321.7 million BD of foreign assets ($848.7 million) within the first nine months of 2018.

Bahrain does not plan to issue new U.S. dollar-denominated bonds this year, a central bank official told investors on Tuesday, after the kingdom secured a $10 billion aid package from Gulf neighbours last week, one source said.

Saudi Crown Prince Mohammed bin Salman Al Saud expressed support for what he described as "serious reforms" made by Bahrain to tackle the financial crisis.

The amount of support to be provided by “Saudi Arabia, the United Arab Emirates and Kuwait” hasn’t been announced. However, the ruling family in Bahrain doesn’t seem optimistic regarding the joint statement issued by the 3 states.

Kuwait has offered a new financial grant as part of its share in the “Gulf Marshall” project for building 314 housing units in the Northern City.