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Manama is drawing down almost half the assets of its Future Generations Reserve Fund (FGRF) and suspending further payments into the fund as it attempts to deal with a growing fiscal crisis amid a weakened economic environment and still high state spending.Under a decree issued by King Hamad Bin Isa Al-Khalifa on 13 July, the government is to withdraw $450m from the fund. As of end-December 2019, the FRGF had $918m worth of assets, according to a statement issued on 6 July after the cabinet had approved the fund’s annual report.
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