Manama, Aug. 28 (BNA): Minister of Finance and National Economy, Shaikh Salman bin Khalifa Al Khalifa, has affirmed that thanks to the sense of team spirit adopted by Team Bahrain, efforts will be intensified in all sectors to ensure the successful implementation of all the initiatives of the Fiscal Balance Programme to reach an equilibrium between government income and spending by 2024.

This goal will support the comprehensive development process, led by His Majesty King Hamad bin Isa Al Khalifa, as it is in line with the plans of the government, led by His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, he said.

Shaikh Salman bin Khalifa indicated that the positive financial results achieved during the first half of 2022 by reducing expenditure and increasing non-oil revenues prove that Bahrain is on the right track towards achieving the goals of the Fiscal Balance Programme, and confirm the unwavering resolve to optimise achievements by building on the previous gains for the benefit of the nation and the citizen.

The minister also pointed out that the kingdom’s economy is robust and diverse, which enables it to continue creating more opportunities for the citizens.

Shaikh Salman bin Khalifa made the statements while meeting here today the Director-General, Chairman of the Board of Directors of the Arab Monetary Fund, Abdulrahman Al Hamidy, who is currently on a visit to the kingdom, within the framework of the ongoing cooperation and coordination between the two sides.

The Minister of Finance and National Economy commended the Arab Monetary Fund’s role and contributions to delivering various aspects of support for implementing development plans and programmes in various Arab countries.

The two sides reviewed the challenges facing global financial markets, emphasising the importance of giving priority to providing the necessary financing needs related to public debt entitlements in an effort to achieve financial sustainability and ensure more economic stability.

They also discussed ways to broaden aspects of joint coordination and cooperation between the Ministry of Finance and National Economy and the Arab Monetary Fund, in addition to a number of issues of mutual interest.

Dr. Abdulrahman Al Hamidy praised the continuous cooperation between Bahrain’s Ministry of Finance and National Economy and the Arab Monetary Fund.

WHQ