Nod for budget report

GDP grew by 4.5 per cent, reveals report on state budget for 2014

DT News Network

Manama

The cabinet session yesterday approved the Consolidated Final Account of the State for the fiscal year ending on December 31, 2014 after being audited by the National Audit Office (NAO), as well as the report on the implementation and performance of the general state budget 2014. The cabinet has also decided to take the required constitutional procedures ahead of referring them to the legislative branch. 

The report on the implementation of the state budget for 2014 revealed that the gross domestic product (GDP) grew by 4.5 per cent, while the non-oil sector increased by 4.9 per cent and the oil sector by 3 per cent.

The report also indicated that the Kingdom had succeeded in achieving good results according to world standards, and maintained its competitive potential at the international level. 

His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa chaired the weekly cabinet session, which was also attended by His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince, Deputy Supreme Commander and First Deputy Prime Minister. 

The cabinet referred the Juffair View and Landmark City View projects, two stalled real estate projects, to the Ministerial Committee for Urbanisation and Infrastructure to study them thoroughly and determine debts, obligations and rights of all parties.

The session approved devising a long-term national water strategy for the kingdom, and decided to re-structure the Water Resources Council, under the chairmanship of Deputy Premier Shaikh Khalid bin Abdulla Al Khalifa. 

The cabinet also endorsed a draft law on ratifying the Air Services Agreement signed between Bahrain and Cyprus, and decided to refer it to the legislature, according to constitutional and legal procedures.

In a statement following the session, the Secretary-General of the Cabinet Dr. Yaser bin Essa Al-Nasser said the cabinet condemned the terror blast at the “Imam Ali ibn Abi Taleb” mosque in the Qadih village in Qatif, Saudi Arabia. The session reiterated Bahrain’s support to Saudi Arabia’s efforts in facing terrorism. 

On preparations for the holy month of Ramadan, the cabinet was informed that there are sufficient food supplies that meet the needs of consumers. HRH Premier instructed to intensify control measures to counter tampering with prices and any other malpractices.