Bahrain economy has ‘recovered’, on way to development
TDT | Manama
The Daily Tribune – www.newsofbahrain.com
Bahrain economy has “recovered” and is moving towards achieving the desired results of the financial and development sustainability that will benefit the citizens and have an impact on the nation’s overall progress.
This was confirmed by Finance and National Economy Minister Shaikh Salman bin Khalifa Al Khalifa who highlighted the positive indicators that have been achieved in various targeted sectors in the Kingdom.
He was speaking while holding a remote meeting with the editors-in-chief of local newspapers to update them on the progress of the implementation of the five priorities of the Economic Recovery Plan and its main objectives.
Shaikh Salman lauded the directives of His Majesty King Hamad bin Isa Al Khalifa to achieve the best for the nation and the citizens, as well as the constant follow-up of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, on all programmes and projects implemented by the government in cooperation with the legislative branch and the private sector, within Team Bahrain.
The implementation of the priorities and programmes of the Economic Recovery Plan will continue, and the pace of achievement will be accelerated while ensuring the highest possible efficiency and quality levels as planned, he added.
Shaikh Salman pointed out that this will contribute to achieving the objectives of the Economic Recovery Plan and reaching the forecast results, whose effects will lead to promoting the growth of the national economy.
The Minister also indicated that economic diversification efforts will continue in order to increase the contributions of the non-oil sectors to the GDP in partnership with the private sector as a major engine of the economy, commending, in this regard, the role played by all members of Team Bahrain in supporting various initiatives aimed at achieving economic recovery and enhancing fiscal stability.
Shaikh Salman affirmed the role played by the local press and national media, as effective partners, in supporting the efforts to implement the Economic Recovery Plan since its launch, which contributed to raising awareness among members of society on its importance and the need to support its implementation so as to achieve its goals and reflect positively on everyone.
He also emphasised the responsible role played by the local press and national media, as well as their competence and professionalism in dealing with all national development projects.
The Cabinet has commended efforts made by various sectors to implement Bahrain’s Economic Recovery Plan and programmes.
At yesterday’s weekly meeting, chaired by His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, the Cabinet reviewed a memorandum submitted by the Ministerial Committee for Financial and Economic Affairs and Fiscal Balance, showing that 16 of the Economic Recovery Plan’s 27 programmes have been completed, with the remaining 11 to be finalised over the next few years.
The memorandum also details the improvement of economic indicators across numerous sectors as a result of the Plan’s successes to date. The Cabinet emphasised the importance of continuing to work together, noting constructive cooperation between the executive and legislative authorities, and the role of the private sector in implementing the Economic Recovery Plan and its programmes.
To mark World Environment Day, the Cabinet noted that Bahrain will continue to implement initiatives that promote a culture of environmental preservation and sustainability. It commended the announcement made by the United Nations Special Envoy for Yemen, Hans Grundberg, to extend the armistice period in the Republic of Yemen for two additional months, per the terms of the basic agreement that went into effect on 2 April 2021.
This is in line with the initiative announced by the Kingdom of Saudi Arabia in March 2021 to end the Yemeni crisis through a comprehensive peace settlement. The Cabinet expressed its hope that this will contribute to a peaceful solution that will bring stability.
The Cabinet discussed and approved the following memorandums:
1. A memorandum by the Ministerial Committee for Legal and Legislative Affairs regarding a draft decision to establish the National Taskforce to Combat Communicable Diseases, which aims to support efforts to combat and prevent such diseases.
2. A memorandum by the Ministerial Committee for Legal and Legislative Affairs regarding a Draft Decision to restructure the National Committee of World Trade Organization, which is concerned with analysing international trade agreements and examining their compatibility with national legislation.
3. A memorandum by the Minister of Finance and National Economy regarding granting the Swiss Confederation the right of sovereignty over the data of Swiss subscribers stored in existing cloud computing centres in the Kingdom of Bahrain.
4. A memorandum by the Minister of Works, Municipalities Affairs and Urban Planning regarding the implementation of the Kingdom of Bahrain’s afforestation plan, in line with Bahrain’s commitments to the goals of the UN Climate Change Conference (COP26).
5. A memorandum by the Ministerial Committee for Legal and Legislative Affairs regarding the government’s response to a draft law submitted by the Council of Representatives.
The Cabinet took note of ministerial reports regarding Bahrain’s participation in; the 152nd session of the GCC Ministerial Council, the final week of the World Summit on the Information Society, the 75th World Health Assembly, and the 151st session of the Executive Boards of the World Health Organization.
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