The Shura Council is scheduled to vote on three sets of 2024 government accounts on Sunday, 25 October 2026. Legislators will examine the financial records following the completion of the annual audit cycle. The review process involves assessing the fiscal performance and expenditure reports submitted by state entities. These accounts represent the final documentation of government spending for the 2024 fiscal year. Members of the council are expected to finalize their position on the reports during the upcoming session. Approval of these accounts remains a required step in the parliamentary oversight of public funds in Bahrain.
Overview of National Accounts
Bahrain's 2024 budget deficit reached BD1.026 billion. Financial documentation submitted to the Shura Council indicates that government spending for the 2024 fiscal year totaled BD4.052 billion. Revenue figures for the same period show a decline, with government income falling 5% to BD3.026 billion. These final accounts provide the data necessary for legislators to assess the fiscal performance of state entities against the established spending targets.
Debt and Spending Concerns
Public debt increased to BD19.3 billion in 2024, rising from the BD17.9 billion recorded in 2023. These figures reflect the total outstanding financial obligations of the state as detailed in the documentation submitted to the Shura Council.
Government bodies also exceeded their authorized spending limits during the 2024 fiscal year. Audit reports indicate that various agencies overspent their approved budgets by a total of BD376.9 million. This figure encompasses expenditure beyond the initial allocations granted to state entities, including the Ministry of Education, the Ministry of Interior, the General Organisation for Social Insurance, and the King Hamad University Hospital. The National Audit Office provided these findings to assist the council in its evaluation of public fund management. Mohamed Darwish and Khalid Al Maskati are expected to review these variances as part of the broader inquiry into the final 2024 accounts. The council intends to reconcile these excess expenditures against the original budgetary frameworks established for each department before completing the formal oversight process.
Investment Performance and Returns
The unemployment insurance fund recorded a decline in its financial returns during the 2024 fiscal year. Investment earnings for the fund dropped 38.5%, reaching a total of BD14 million. This decrease reflects the performance of the fund's holdings throughout the period under review by the Shura Council.
Separate data concerning the Future Generations Reserve Fund shows a different trend for the same period. Assets held by the Future Generations Reserve Fund increased by 20.2% over the course of the year. The total value of these assets reached $924.2 million. Legislators are evaluating these investment figures as part of the broader examination of government financial accounts and state-managed portfolios. The figures for both funds provide the council with evidence of the returns generated by state-controlled investment vehicles during the 2024 fiscal cycle.
