Manama The Daily Tribune – www.newsofbahrain.com Finance and National Economy Minister Shaikh Salman bin Khalifa Al Khalifa yesterday participated in the 4th edition of the Future Investment Initiative in Riyadh, Saudi Arabia. The Minister took part in the internation
TDT | Manama
The Daily Tribune – www.newsofbahrain.com
Finance and National Economy Minister Shaikh Salman bin Khalifa Al Khalifa yesterday participated in the 4th edition of the Future Investment Initiative in Riyadh, Saudi Arabia.
The Minister took part in the international conference alongside panellists Mohammed Al Jadaan, Minister of Finance for Saudi Arabia, Jason Greenblatt, former White House Special Envoy to the Middle East, and Thomas Barrack of Colony Capital.
Outlining the Kingdom of Bahrain’s economic diversification success since the launch of the Bahrain Economic Development Board, chaired by His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, Minister Shaikh Salman noted the strong growth witnessed in Bahrain’s non-oil economy, which is now representing around 90% of Bahrain’s GDP, up from 55% in 2000.
The Minister highlighted the important role economic diversification plays in supporting and meeting the aspirations of the region’s youth, noting their desire to benefit from opportunities, not hand-outs.
Looking to the future as well as Bahrain’s existing Fiscal Balance Program, the Minister outlined the need for a recalibration of the relationship between economic growth and government revenues.
He called for efforts to create a positive correlation between economic growth and government revenues leading to greater economic stability, innovation, and increased opportunities for all.
