(MENAFN) The IMF suggested that Bahrain requires a comprehensive package of reforms in order to shrink its fiscal deficits over the medium term.
It comes as Bahrain set a target to secure vital support from rich neighbors so as to steer clear of currency devaluation.
In a report, IMF's Executive Board stated "despite planned fiscal consolidation measures, fiscal and external deficits are projected to continue over the medium term, due to the large and growing interest bill."
It added "public debt is expected to increase further over the medium term and reserves are projected to remain low."
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