HRH Premier chairs work meeting

Manama, June 28 (BNA): At a work meeting to follow up on economic issues, His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa expressed deepest thanks and appreciation to the Kingdom of Saudi Arabia, Kuwait and the UAE for their highly valued commitment to provide the needed support to boost the financial situation in Bahrain. He stressed the government’s resolve to continue its unrelenting efforts and economic reform policies to achieve balance between revenues and expenditure and promote financial stability. HRH the Premier shed light at the work meeting he chaired at Gudaibiya Palace today on alternatives to boost the economic situation and financial stability. He directed a specialised committee to map out visions to achieve financial balance in the short, medium and long run while ensuring citizens’ are not affected and preserving their gains. The committee will be headed by the Deputy Premier and Head of the Ministerial Committee for Financial Affairs and Rationalizing Expenditure. It will feature in its membership mainly the Finance Minister and the Central Bank of Bahrain (CBB) Governor. A vision in this regard will be submitted to the specialised committees for study in preparation for its referral to HRH the Premier to take the necessary decisions. HRH the Prime Minister commended the stance of the three brotherly countries to support economic reforms and financial stability, describing it as an addition to the honourable stances of those countries towards Bahrain and an embodiment of fraternity and common destiny in their deepest sense. HRH the Premier described the initiative of the Kingdom of Saudi Arabia, Kuwait and the UAE as a new milestone in the history of Bahrain with those brotherly GCC countries. He reiterated the government’s support to continue boosting sustainability of the government’s funding and building monetary reserves that enhance financial stability and support the national economy. HRH the Prime Minister was briefed by the Finance Minister and CBB Governor on the economic and financial situation and alternatives to bolster the kingdom’s economy mainly amid the current economic challenges. He directed to continue studying available alternatives and adopting visions to invigorate the economy, increase growth rates and achieve financial stability.