Budget cuts in Bahrain government spending hailed
TDT | Manama
The Daily Tribune – www.newsofbahrain.com
Finance and National Economy Minister Shaikh Salman bin Khalifa Al Khalifa yesterday hailed the government’s decision to reduce its expenditures in the proposed state’s budget for the next two fiscal years.
On Sunday, the Cabinet approved a draft budget for the fiscal year (FY) 2021-2022 and referred a draft law to the Council of Representatives for its approval, in accordance with legal and constitutional rules.
While reducing its expenditures, the government vows to continue improving the quality and efficiency of public services to enhance its working mechanisms and develop its performance.
The minister emphasized that the government, while working on the budget, prioritized the interests of the citizens and the nation.
He stressed that consideration was accorded to maintaining social support for the citizens in great need and to the commitment to achieving the objectives of the fiscal balance program, mainly increasing non-oil revenues according to the plans set for the benefit of the country and citizens.
Shaikh Salman pointed out that the drop in global oil prices and the slowdown in economic activities due to the coronavirus pandemic required adaptation to the new facts.
This was reflected in the state budget for the next two fiscal years by adopting stimulating and supporting economic recovery and continuing to create promising opportunities for citizens in a way that contributes to achieving the goals of the Government Action Plan and to building on previous achievements, he added.
The minister said he was looking forward to enhancing positive co-operation and joint work under the one-team spirit between the executive and legislative branches to approve the state’s general budget in order to achieve the goals and preserve the rights of citizens.
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