Bahrain economy robust and diverse: Finance Minister

TDT | Manama                                                                           

The Daily Tribune – www.newsofbahrain.com

Bahrain’s economy is robust and diverse, which enables it to continue creating more opportunities for the citizens.

Finance and National Economy Minister Shaikh Salman bin Khalifa Al Khalifa made the statements while meeting yesterday the Director-General, Chairman of the Board of Directors of the Arab Monetary Fund, Dr Abdulrahman Al Hamidy, who is currently on a visit to Bahrain, within the framework of the ongoing cooperation and coordination between the two sides.

As a consequence of reducing spending and raising non-oil revenues during the first half of 2022, Shaikh Salman claimed that the Kingdom is on the right track towards achieving the goals of the Fiscal Balance Programme.

He vowed to optimise achievements by building on the previous gains for the benefit of the nation and citizens. The Minister commended the sense of team spirit adopted by Team Bahrain, affirming that efforts will be increased across all sectors to successfully implement all of the Fiscal Balance Programme’s initiatives and achieve a balance between government income and spending by 2024.

This goal will support the comprehensive development process, led by His Majesty King Hamad bin Isa Al Khalifa, as it is in line with the plans of the government, led by His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, he said.

Role and contributions

Shaikh Salman commended the Arab Monetary Fund’s role and contributions to delivering various aspects of support for implementing development plans and programmes in various Arab countries.

They reviewed the challenges facing global financial markets, emphasising the importance of giving priority to providing the necessary financing needs related to public debt entitlements in an effort to achieve financial sustainability and ensure more economic stability.

They also discussed ways to broaden aspects of joint coordination and cooperation between the Ministry of Finance and National Economy and the Arab Monetary Fund, in addition to a number of issues of mutual interest.

Dr Al Hamidy praised the continuous cooperation between the Ministry and the Arab Monetary Fund.