Government commitment to reinforcing financial sustainability stressed

Information and Parliament Affairs Minister Isa bin Abdulrahman Al-Hammadi confirmed the government's steady efforts to addressing financial challenges and achieving financial sustainability in the interest of the homeland and citizens through the implementation of measures aimed at reducing expenses and increasing revenues.

He noted during the press conference following the weekly Cabinet meeting that all the decisions are taken by the government following profound studies that balance between the reality on the ground and the ambitions to be achieved.

The minister said that the government has held a series of consultative meetings with the parliament on ways of facing the current financial challenges resulting from a result of the fall in the global oil prices. He underlined the importance of intensifying efforts to deal with the financial challenges and their effect on the state budget.

He pointed out the government's efforts to diversify sources of income and the implementation of the recommendations of the taskforces on reducing government spending.

The minister highlighted the government's resolve to boost the investment environment to contribute to restoring the global confidence in the Bahraini economy and market. He pointed out the implementation of mega development projects in Bahrain that were previously estimated to be worth around $23 billion.