Bahrain Approves Four-year Action Plan, Focused on Private Sector

The Bahraini Cabinet held Thursday an exceptional session, chaired by Bahrain’s Crown Prince Salman bin Hamad Al Khalifa.

The session was dedicated to discuss the 2019-2022 Government Action Plan, which was approved and referred to the parliament.

UAE, KSA, Kuwait to Enhance Bahrain Fiscal Stability

The Ministers of Finance of the Kingdom of Saudi Arabia, the United Arab Emirates, the State of Kuwait…

200 Views | the publication reaches you by | Bahrain News

The plan focuses on empowering the private sector, elevating the government work-environment, enhancing investment climate, cutting down expenditures, and exploiting water resources.

The government seeks to implement a four-year action plan that bolsters the Fiscal Balance Program launched in October 2018 and funded by Saudi Arabia, UAE, and Kuwait.

To ensure fiscal balance in Bahrain, the program grants the kingdom USD10 billion to achieve the balance between expenditures and government revenues by 2022.

At the beginning of 2019, Bahrain started applying the value-added tax (VAT), which is expected to add to the treasury BHD300 million (USD796 million) in this year.

Earlier, the Bahrain Economic Development Board forecast real GDP growth of 3.4 percent in 2018 and 2.8 percent in 2019.

Bahrain FinTech Bay to join forces with SES to use space technology

Highlighting its commitment to further develop Bahrain’s technology ecosystem and its access to space technology, Bahrain FinTech Bay…

45 Views | the publication reaches you by | Bahrain News

Related Articles

You can subscribe to our Facebook, Twitter and Google pages or use our RSS feed channel to always read the most important news about Bahrain, the Gulf and the world.