Bahrain’s economic recovery initiatives reviewed

Bahrain’s initiatives to achieve sustainable growth and launch a post-pandemic economic recovery were reviewed during a meeting between Finance and National Economy Minister Shaikh Salman bin Khalifa Al Khalifa and International Monetary Fund (IMF) deputy managing director Bo Li on the sidelines of the Spring Meetings of the IMF and the World Bank Group (WBG).

The minister affirmed the prominent role of the IMF to reduce the economic and social effects of the pandemic and stimulate economic sectors.

He referred to the ongoing efforts towards achieving the objectives of the Fiscal Balance Programme by 2024 to enhance financial and economic stability in the kingdom.

Shaikh Salman also highlighted Bahrain’s leading role in digital transformation by supporting advanced digital systems in various fields.

Meanwhile, the minister stressed the importance of developing economic policies and enhancing resilience to overcome the repercussions of the pandemic.

He underlined the crucial the role played by the World Bank Group in tackling the effects of the pandemic, in addition to supporting growth, achieving economic recovery and protecting the most vulnerable groups.

This came as he delivered a statement before the Development Committee on behalf of the Arab Group and the Maldives, represented by Bahrain.

He noted the importance of investing in human capital and activating its primary role within the economic development process, by refining human energies with skills and achieving the highest levels of productivity.

The minister also stressed the importance of supporting women and youth and promoting education and healthcare.

Source: https://www.gdnonline.com/Details/1060543/Bahrain%E2%80%99s-economic-recovery-initiatives-reviewed