State revenue: PM for agenda
Prime Minister HRH Prince Khalifa bin Salman Al Khalifa has issued directives to adopt an agenda that enhances Bahrain’s ability to contain the decline of state revenues as a result of the financial challenges, and makes it proportionate to the drop in oil prices.
“This can be achieved through carrying on efforts to reduce and rationalise government spending, developing revenues and resources in non-oil sectors, merging more government departments, attracting capitals and investments and tightening control over public money spending aspects,” HRH Premier remarked while chairing a work meeting with a number of Deputy Premiers and Ministers on the Kingdom’s general economic trends here yesterday.
Prince Khalifa highlighted the Kingdom’s achievements and the positive development strides it had made over the past years and decades. The Kingdom has also given top priority to sectors that are directly related to the citizens’ daily life. This is reflected in the building of more than 38,000 housing units since the launch of the government’s housing programme, and the government’s plans, outlined in its action plan (2015-2018) to construct 25,000 hints, as part of the 40,000 units ordered by His Majesty King Hamad bin Isa Al Khalifa.
Prince Khalifa then reviewed the latest developments regarding steady decline of oil prices in global markets, stressing that the issue required the highest levels of professionalism in dealing with it so as to adapt to the current situation in a way that did not affect the citizens.
HRH Premier said effective policies were needed to increase revenues, reduce spending, create new economic activities and encourage investments in various economic sectors to protect the national economy.
Photo Caption:
HRH Prince Khalifa bin Salman Al Khalifa
Related Posts