FINANCE Minister Shaikh Ahmed bin Mohammed Al Khalifa yesterday briefed the financial and economic affairs committee at the Shura Council and parliament on the main features of the budgets for 2013 and 2014.
The meeting, attended by parliament chairman Dr Khalifa Al Dhahrani, also discussed the impact of GCC Fund on the budgets.
Parliament financial and economic affairs committee head Latifa Al Gaoud said MPs discussed the basis on which oil prices were estimated, at $90 per barrel, the decrease in funds for construction projects and non-oil revenues.
She said they stressed the need for more support for citizens, especially those with low income and the retired, in private and public sectors.
Shaikh Ahmed said project expenses were estimated at BD555 million for 2013 and BD350m for 2014.
The minister said allocations for new projects and those underway were based on expected cash flow.