Joint Government and Parliamentary meeting on the Kingdom’s economic and financial recovery

Manama, September 26 (US): Today, the executive and legislative authorities held a joint meeting chaired by the Speaker of Parliament, Fawzia bint Abdullah Zainal, to review plans and initiatives related to the Kingdom’s economic recovery after the outbreak of the epidemic.

Main discussion points:

– Directives of His Majesty the King to ensure the protection of public health, including mitigating the economic effects of the pandemic

Initiatives to support the national economy and the private sector to maintain sustainable economic growth, protect jobs, create new opportunities for citizens, and ensure labor market stability.

Pre-pandemic economic and financial data until February 2020 indicate that the goals of the temporary fiscal balance program have been exceeded

Post-Covid-19 recovery to secure the Kingdom’s economic and financial stability and ensure that the fiscal balance program aims for a balanced budget by its new target date in 2024

Maintaining the support of eligible citizens while adjusting the value-added tax rate

Continuing exemption from value-added tax for 94 basic food commodities and 1,400 government services

His Excellency Zainal praised the cooperation of the executive and legislative authorities, stressing the importance of giving priority to the development and modernization of the Kingdom.

Zainal indicated that the meeting reflects the commitment of the legislative and executive authorities to Bahrain’s Economic Vision 2030.

His Excellency Zainal praised the strong economic performance of the Kingdom of Bahrain during 2021. The indicators correspond to the levels recorded before the pandemic. The real estate, sales, international exports and tourism sectors showed particularly encouraging growth.

READ MORE  Defence Minister chairs GCC Defence Ministers meeting

His Excellency Zainal stressed that the proactive measures taken by Bahrain in response to the global pandemic have been recognized internationally.

His Excellency Zainal expressed the parliament’s readiness to exercise its legislative role in the interest of the country and its citizens.

The Speaker of the Shura Council, Ali bin Saleh Al-Saleh, affirmed that the positive economic indicators of the Kingdom during the first eight months of 2021 are comparable to those recorded before the global pandemic that began in 2019. This confirms the Kingdom’s financial stability. Excellence in implementing policies that achieve economic sustainability.

Al-Saleh praised the performance and efforts of the government headed by His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, to develop programs that complement the national economy.

Al-Saleh indicated that the Shura Council will continue to support the government’s ambitious plans by enacting legislation that enhances economic performance and attracts investment.

Al-Saleh praised the continuous cooperation and coordination between the legislative and executive authorities, and praised the continuation of the joint meetings that resulted in the exchange of ideas and discussion of legislative and executive initiatives.

For his part, the Minister of Finance and National Economy, Sheikh Salman bin Khalifa Al Khalifa, indicated the government’s commitment to the principles of the fiscal balance program. The program aims to enhance spending efficiency, reduce operating expenses while maintaining social support for eligible citizens, and ensure continuity of high-quality government services during the post-COVID-19 recovery phase.

His Excellency Sheikh Salman stressed the importance of the unified spirit of the Bahrain team in the Kingdom’s health care response and its role in Bahrain’s economic recovery after COVID-19.

READ MORE  HRH the Crown Prince and Prime Minister congratulated by Deputy Prime Minister

For their part, the deputies of the Speaker of the Shura and Representatives Councils and the heads of the Financial and Economic Affairs Committees of the Shura and Representatives expressed their thanks to the government for its cooperation with the legislative authority.

The Speaker of the Shura Council, His Excellency Ali bin Saleh Al-Saleh, Minister of Finance and National Economy, His Excellency Sheikh Salman bin Khalifa Al Khalifa, Minister of Labor and Social Development, and His Excellency Jamil bin Muhammad Ali Humaidan, Minister of Shura. Council and Parliament Affairs, His Excellency Ghanem bin Fadel Al Buainain, Minister of Industry, Trade and Tourism, His Excellency Zayed Rashid Al Zayani, First Deputy Speaker of the Shura Council, and His Excellency Jamal Muhammad Fakhro, Second Deputy Speaker of the Shura Council. The Shura Council, His Excellency Jamila Ali Salman, the Deputy Speaker of the House of Representatives, Abdul Nabi Salman, the Second Deputy Speaker of the House of Representatives Ali Ahmed Zayed, and the heads and members of the financial and economic committees of the Shura and Representatives Councils. attended the meeting.

insult

Source link

Leave a Comment