Cabinet reviews fiscal health

Manama : The Cabinet meeting held yesterday reviewed the fiscal situation in the Kingdom in the backdrop of weak oil prices and its impact on government spending as well as the government’s efforts to reduce budget deficit and maintain secure levels of public debt.

The meeting was held under the chairmanship of His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa which was attended by HRH Prince Salman bin Hamad Al Khalifa, the Crown Prince, Deputy Supreme Commander and First Deputy Prime Minister, and other ministers, at the Gudaibiya Palace.

The session discussed ways to increase non-oil revenues, and the option of reducing expenditure in the general budget for fiscal 2017 and 2018.

The Cabinet also discussed the recommendations made by the Ministerial Committee for Financial Affairs on Rationalising Expenditure, as highlighted in the memorandum submitted by the Deputy Premier and committee chairman, and adopted the recommendations contained in the report submittted by the advisory mission of the International Monetary Fund on ways to deal with the budget deficit. The Ministerial Committee for Financial Affairs  on  Rationalising Expenditure has been requested to continue study the options and recommendations to deal with budget deficit.

HM’s visit lauded

At the Cabinet session, HRH Prime Minister Prince Khalifa bin Salman Al Khalifa lauded the recent successful and fruitful visits of His Majesty King Hamad bin Isa Al Khalifa to Malaysia, Brunei Darussalam and Thailand.

HRH Premier described the royal visits as very successful and fruitful, stressing that they are important in pushing the Kingdom’s political, economic and investment cooperation with these countries further, and in adding a new dimension to Bahrain’s relation with them.

The Prime Minister also highlighted the importance of the talks held between HM King Hamad and the leaders and senior officials of those countries, and praised the gracious welcome accorded to HM the King, as well as the memoranda of understanding and agreements signed on the sidelines of the royal visits.

 The session also lauded the outcomes of the recent visit of the Thai Prime Minister, General Prayut Chan-o-cha, to the kingdom at the invitation of HRH Premier.

In this regard, the cabinet commended the fruitful talks held between the two sides, under the chairmanship of HRH the Prime Minister and his Thai counterpart, stressing the importance of those talks in strengthening bilateral relations and bolstering joint cooperation.  

Welcome to Al Sisi 

 The Cabinet meeting also welcomed the visit of the Egyptian President, Abdel-Fattah Al Sisi to Bahrain, and wished him a happy stay in Bahrain.

Praising the solid fraternal Bahraini-Egyptian relations, the Cabinet stressed the importance of President Al Sisi’s visit in strengthening bilateral ties and bolstering joint cooperation.

Cabinet decisions

1. The Cabinet has approved the recommendations of the Board of Directors of the Bahrain Tourism and Exhibitions Authority (BTEA) to adjust the land rents of the Bahrain International Exhibition and Convention Centre, as well as its recommendations on the licenses issued by it in line with the provisions of Article 5 of Decree Law 31/2015 on the establishment of BTEA, as outlined in the memorandum presented by the Minister of Industry, Commerce and Tourism, and BTEA board chairman.

2. The cabinet also approved the signing of the an agreement between Bahrain and South Korea on air services between and beyond their respective territories, and mandated the relevant minister to sign it on behalf of the Government of Bahrain.

3. The Cabinet endorsed four proposals submitted by the Council of Representatives, and approved the government’s replies to them which had been prepared by the Ministerial Committee for Legal Affairs. The proposals included the allocation of land to build an events hall in Busaiteen, in line with the directives of HM the King in this regard, the application of the fingerprint system for all expatriates at the Kingdom’s various exits, revamping the sea front of the Al-Fateh Avenue, and the new building and branches for the General Directorate of Nationality, Passports and Residence Affairs (NRA). 

More expos proposed

HRH Prime Minister has called for holding more exhibitions in the real estate sector to promote projects so as to revitalise the construction and contracting sector on the lines of the Gulf Construction Expo (GC Expo 2017), the Gulf Property Show and the Gulf Interiors Exhibition (Gulf Interiors 2017), held recently under the Prime Minister’s patronage and opened on his behalf by Deputy Premier, His Highness Shaikh Khalid bin Abdulla Al Khalifa.

Press Day

HRH the Prime Minister congratulated the press and media community on the occasion of the Bahrain Press Day, and wished Bahraini columnists, journalists and media personnel every success in their duties. 

FIFA meet welcomed

The session welcomed the congress of the Fédération Internationale de Football Association and tasked to make preparations to ensure success to the international gathering.