Finance Minister: Reducing public expenditures and maintaining social support
Manama, Nov. 3 (BNA): Finance and National Economy Minister Shaikh Salman bin Khalifa Al Khalifa said that reducing government expenditures in the state’s budget for the fiscal years 2021-2022 clearly shows that the government started with itself by reducing its expenditures while continuing to improve the quality and efficiency of public services, to enhance its working mechanisms and to develop its performance.
The government, while working on the budget, prioritized the interests of the citizens and the higher interest of the nation above all else, Shaikh Salman said.
The minister stressed that when preparing the state’s budget for the next two fiscal years, consideration was accorded to maintaining social support for the citizens in greatest need and to the commitment to achieving the objectives of the fiscal balance program, mainly increasing non-oil revenues according to the plans set for the benefit of the country and citizens.
The Cabinet on Sunday approved a draft budget for the fiscal year (FY) 2021-2022 and referred a draft law to the Council of Representatives for its approval, in accordance with legal and constitutional rules.
Shaikh Salman pointed out that the drop in global oil prices and the slowdown in economic activities due to the coronavirus pandemic required adaptation to the new facts.
This was reflected in the state budget for the next two fiscal years by adopting stimulating and supporting economic recovery and continuing to create promising opportunities for citizens in a way that contributes to achieving the goals of the Government Action Plan and to building on previous achievements, he added.
The minister said he was looking forward to enhancing positive cooperation and joint work under the one-team spirit between the executive and legislative branches to approve the state's general budget for the fiscal years 2021-2022 in order to achieve the set goals and preserve the rights of citizens.
