Manama, May 9 (BNA) The Minister of Finance and National Economy Sheikh Salman bin Khalifa Al Khalifa said that the Fiscal Balance Program is on the right track to achieve its objectives.
The ministry confirmed the continuation of the tireless work to implement all the initiatives contained in the program to reach the financial balance, which highlights the steps that have been achieved so far.
He pointed out that the program aims to reach the point of financial balance between expenditures and revenues in 2024 thanks to cooperation and coordination between various government agencies and legislative support for initiatives, in addition to legislation supporting financial balance.
He pointed out that the Kingdom of Bahrain has adopted a package of initiatives to ensure the achievement of financial balance, by reducing expenses, reducing operating costs expenses in government agencies, enhancing the efficiency of project budgets, controlling and improving expenses related to the workforce. Direct government support to qualified citizens in consultation with the legislative authority, in addition to the development of non-oil revenues.
“These initiatives that have been adopted to achieve economic growth, and the efforts devoted to prioritizing and programs for the economic recovery plan, in addition to the rise in oil prices, will contribute to covering the financing needs and achieving the objectives of the fiscal balance program,” he said.
He praised the concerted efforts made by the Bahrain team, the executive and legislative bodies and the private sector, praising the spirit of one team that serves the interest of the nation, and all citizens contributed to achieving achievements at all levels.