MPs push for fund to shield economy from crises

TDT | Manama

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A proposed Financial Emergency Fund will be debated in Parliament on Tuesday, under a motion calling on the Government to study how such a fund could be established to address crises and disasters with economic impact.

The proposal envisions the fund being overseen by the Ministry of Finance and National Economy, with feasibility studies examining financing, reserve building, and safe investment of any money.

MP Dr Ali Al Nuaimi, who submitted the motion, said it was rooted in constitutional princi - ples that p l a c e social solidarity at the heart of the State’s duties during disasters and public hardship.

“Social solidarity in confronting disasters and emergencies is a constitutional obligation,” he said. “It is one of the pillars the State guarantees and must take steps to make real.”

He noted that financial shocks can strike without warning due to global market swings, supply-chain disruptions, maritime risks and sharp oil-price movements amid geopolitical uncertainty.

The proposal aims to draw up a financial emergency plan, reduce exposure for the State budget, and improve investment returns on fund reserves.

Parliament’s Financial and Economic Affairs Committee recommended approval, with all members backing the motion on public- interest grounds.