Manama, April 2 (BNA): The executive and legislative branches held their first joint meeting to discuss a draft law approving the state budget for the fiscal years 2023-2024.
The draft law was attached to Decree No. 34/2023, which was referred to the Shura Council and the House of Representatives in accordance with the constitutional and legal frameworks, after the approval of the Council of Ministers.
The meeting was chaired by Speaker of Parliament Ahmed bin Salman Al-Musallam, Speaker of the Shura Council Ali bin Saleh Al-Saleh, Speaker of the Shura Council, and Deputy Prime Minister Sheikh Khalid bin Abdullah Al Khalifa.
The Speaker of the House of Representatives affirmed the continuation of the implementation of the economic recovery plans and the financial balance program and directing all these results and their positive repercussions on the standard of living of the Bahraini family, as a beacon for national action.
Al-Musallam expressed his deep thanks and gratitude for the efforts of the government, headed by His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, in preparing the state budget for the fiscal years 2023-2024, which included financial stability. Positive economic growth, creating promising opportunities for citizens, working to develop financial and economic support programs, and achieving a financial balance program.
He affirmed the keenness and readiness of the legislative authority to discuss and prepare a draft law approving the state budget for the two fiscal years 2023-2024, in order to achieve the royal directives to reduce the economic burdens on citizens, and subject all programs to further development. In order to meet the basic needs of citizens and provide them with a decent life.
The Shura Speaker confirmed that the consultative meetings and bilateral meetings between the legislative and executive authorities will contribute to formulating a consensual vision for the state budget for the fiscal years 2023-2024.
Al-Saleh indicated that it will achieve the lofty aspirations of His Majesty King Hamad bin Isa Al Khalifa, and what His Majesty affirms is that the citizen is the pillar and foundation of development.
He praised the keenness of the government, headed by His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, to exchange views and ideas that lead to the optimal investment of financial resources, and to ensure efficiency and ability to implement initiatives. And projects included in the government program.
The Chairman of the Board pointed out the importance of concerted efforts and work to enhance Bahrain’s economic growth, praising the Cabinet’s emphasis on taking into account the development of financial and economic support programs and directing support to those who deserve it to meet the needs of citizens. .
The Deputy Prime Minister affirmed that a draft law approving the state budget, which was referred by the Council of Ministers to the legislative authority, embodies the priority of joint national action.
He highlighted the positive effects of this project, which supports the continued achievement of the goals of the comprehensive development process led by His Majesty King Hamad bin Isa Al Khalifa, and the follow-up of His Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince. and prime minister.
Sheikh Khalid pointed out the government’s keenness to be fully and permanently ready to cooperate with the legislative authority. With the aim of reaching agreements that contribute to achieving the good and development of the country and the citizen.
He explained that the referral of the draft law approving the state budget to the legislative authority, marking the start of a new budget cycle, comes in light of the ability of the national economy to achieve unprecedented positive results, which are the highest in the history of Bahrain. In terms of the superiority of the non-oil sector in the effective contribution to the GDP economy at constant prices, it increased by 83.1%, which reflects the efforts made to expand the scope of partnership between the public and private sectors to develop the non-oil economy. Among the results of work in accordance with the initiatives of the financial balance program.
Sheikh Khaled bin Abdullah explained that he took into account, when preparing the draft state budget law, the preservation of financial stability and positive economic growth, the creation of promising opportunities for citizens, and the development of financial and economic support programs to raise the efficiency of directing support. For eligible citizens, adhere to the financial balance program, and continue working to develop the performance and quality of government service and its sustainability.
The Minister of Finance and National Economy, Shaikh Salman bin Khalifa Al Khalifa, presented the goals of achieving financial sustainability, the results of implementing the fiscal balance program, the main axes for preparing the general budget, the basis for its assessment, and a summary of the most important ones. Projects to be implemented during the next budget cycle.
He stressed that the interest of the homeland and the citizen is a permanent priority in the various paths of development, and for this reason efforts continue to achieve the set goals through the implementation of plans and programs to reach the desired aspirations, and their adoption. More initiatives aimed at achieving financial sustainability.
Sheikh Salman affirmed that “optimism” is the title of the next stage, despite the global challenges facing everyone, and which Bahrain will be able to overcome by working in a team spirit, including strengthening prospects for cooperation between the executive and legislative branches.
FKN