The Fiscal Balance Programme is on track to achieved its goals, said Finance and National Economy Minister Shaikh Salman bin Khalifa Al Khalifa.
The ministry stressed continued dedicated work to implement all initiatives which are set out in the programme to reach fiscal balance, highlighting the strides achieved so far.
“The programme aims to reach the point of financial balance between expenditures and revenues in 2024, thanks to cooperation and coordination between various government agencies and the legislative support for initiatives, in addition to legislations backing financial balance”, he said.
The Kingdom of Bahrain, he said, has adopted a package of initiatives to ensure the achievement of financial balance, by reducing expenses, slashing operational costs expenses in government agencies, enhancing the efficiency of project budgets, controlling expenses related to the workforce, and optimising direct government support to eligible citizens in consultation with the legislative branch, in addition to developing non-oil revenues.
“These initiatives which were adopted to achieve economic growth, dedicated efforts to set priorities and programs of the economic recovery plan, in addition to the rise in oil prices, will contribute to covering the financing needs and achieving the objectives of the Fiscal Balance Programme”, he said.
He praised the concerted efforts exerted by team Bahrain team, the executive and legislative branches, the private sector, hailing their spirit of one teamwork that serves the interest of the country and the citizens have all contributed to attaining achievements at all levels.