Draft budget controls expenses, rationalises spending: Deputy PM

TDT | Manama

The Daily Tribune – www.newsofbahrain.com

Bahrain’s draft state budget for the fiscal year 2021- 2022 exerts top priority on the interest of citizens and continuing action plans until 2022, said Deputy Prime Minister Shaikh Khalid bin Abdulla Al Khalifa.

The government, Shaikh Khalid said, has reduced expenditures, rationalised spending and ensured the optimal use of financial resources to ensure continuous delivery of improved services, without affecting the social support for citizens.

Shaikh Khalid, also the Chairman of the Ministerial Committee for Financial and Economic Affairs and Fiscal Balance, said the move is in line with the vision of His Majesty the King’s sustainable development goals, government’s initiatives, plans and projects.

He was speaking during a joint Legislature-Executive coordination meeting to review the principles of the draft-budget.

The Deputy Prime Minister, Finance and National Economy Minister, Shaikh Salman bin Khalifa Al Khalifa, and Parliament Affairs Minister, Ghanim bin Fadhl Al-Buainain, represented the government at the joint meeting, held remotely.

Representatives Council’s Financial and Economic Committee Affairs Chairman, MP Mahmood Al-Bahrani, and Deputy Chairman, MP Ali Eshaqi, in addition to the Shura Council’s Financial and Economic Affairs Committee Chairman, Khalid Al-Muscati, and Deputy Chairman, Ridha Faraj, represented the Legislative branch at the meeting.

Shaikh Khalid told the meeting that the Cabinet had approved the draft budget and referred it to the Council of Representatives for its approval.

Financial sustainability

He said the move affirms government’s seriousness in continuing programmes aimed at achieving financial sustainability, despite the exceptional circumstances due to the novel Coronavirus (Covid-19) pandemic and decline in global oil prices.

Stimulating economy

The deputy premier indicated that the government would continue implementing its Action Plan until 2022 by stimulating economic recovery and creating more promising opportunities while implementing the Fiscal Balance Programme.

“Streamlining government procedures and increasing non-oil revenues are among the most prominent initiatives of the Fiscal Balance Programme, which requires the efforts of all he members of Team Bahrain,” Shaikh Khalid stressed.

Pledges full cooperation

The deputy premier underlined the readiness of all government departments to fully cooperate with the Legislature to discuss the draft state budget, to achieve national interests.

He said he was looking forward to holding the first joint meetings between the specialised committees in the two branches after the completion of the necessary constitutional and legal procedures.

The representatives of the Legislative branch expressed thanks to the Cabinet for approving the draft state budget for the two fiscal years, 2021- 2022, and referring a draft-law on it to the Council of Representatives.

They affirmed the readiness of the Financial and Economic Affairs committees at the Representatives and Shura councils to discuss the draft state budget for the next two fiscal years.

How is it done?

According to Clause (b) of Article (109) of the Constitution, the government should prepare the draft budget, including the state revenues and expenses, and present it to the Council of Representatives and the Shura Council at least two months before the end of the fiscal year.

Following which, the financial committees of either Chamber will jointly dis- cuss the draft budget with the government, following which each committee submits a separate report to its Chamber. The draft budget is presented to the Council of Representatives for discussion and then submitted to the Shura Council for review per the constitution, and amendments to the draft budget are possible in agreement with the government.”