Page 312 - Records of Bahrain (7) (ii)_Neat

702 Records of Bahrain
CQHPIIUSHTIaL
Commercial secretariat,
British Residency,
bosputch Ho. 1*. 11 BaHkaIN.
?
CONFIDENTIAL s February 10, i960.

(1111) 1 \\ • v \::y
• £ ^

»>ir, $4 ///?//.
,l have the honour to enclose a copy of the Bahrain

Gov eminent'a budget Tor 1960 together with a copy oi* a letter
From the secretary to the Bahrain Government to Her majesty's
Politicml Agent in Buhrain commenting in fiome detail on the
contents of the Budget, It may, however, make For ease of
reference ir I restate tlie salient Facts of the budget in
sterling, Luting a rupee to be worth 1u. 6d.
2. Totul revenue For 19GO is estimated at £3,326,073 after
payment of ono-third| of oil revenues to the Privy Purse; From
oil revenues the Ruler of Bahrain receives £1,933,123 and his
Government, for budgetary purposes, £.3,066,230, which is 72?°
of Government revonu The remainder of Government revenue
l
is derived principal .y From Customs receipts estimated at
£1,001,230 and inter ;ut in x’esorve amounting to £300,000
3. Total otate expenditure in i960 is estimated at £6,924,373»
which is £1,397,300 more than estimated revenue, the deficit
being made up out of lcash balances which have accrued From
underspending on projected capital works during previous years
and from revenues exceeding estimates. This budgetary deficit
I
and the utilisation of cash balances to meet it does mean,
II
■ however, that the Bahru in Government will be unab.li: to put tiny
I money to reserve.
h. The secretary to the Bahrain Government expresses in his
.'Letter the hope that 1960 will see the complution of the deep­
water harbour, payment For which out of current income lias
proved to be u severe strain on the Bahrain Government's Finances.
Well over one half of the totul budgeted costs (£.3,^61,073) of

The Right Honourable /capital
oelv/yn Lloyd, O.B.u., k». 1*. ,
o La., etc., e tc.,
FOREIGN OFFICE, b.W. 1.
CONFIDENTIAL