GREEN SHOOTS - New signs of economic recovery

MANAMA: Bahrain’s economic indicators are showing signs of improvement along with labour market stability, the Cabinet has heard.

A Cabinet meeting yesterday, chaired by Deputy Premier Shaikh Mohammed bin Mubarak Al Khalifa, was reviewing the Finance and National Economy Ministry’s Q1 Economic Quarterly Report.

The report attributed the improvement in economic performance to programmes within the government’s economic package to support sectors most impacted by Covid-19.

The ministers also discussed ongoing development initiatives as well as competitiveness indicators. The Cabinet recognised the importance of complying with Covid-19 precautionary measures as the situation evolves, along with the important role vaccination and booster shots play in the national response to the pandemic.

It directed the commencement of payments, through the Unemployment Insurance Fund, of salaries of insured Bahrainis working in companies in the sectors most impacted by Covid-19.

The support, which will last for a three-month period with 100 per cent compensation in the first month and 50pc for each of the second and third months, forms part of the overall economic stimulus package designed to support the stability of the labour market.

The Cabinet reviewed a memorandum by Finance and National Economy Minister Shaikh Salman bin Khalifa Al Khalifa regarding the mechanisms for implementing a decree-law on unemployment insurance.

On the occasion of World Anti-drug Day, the Cabinet thanked the Interior Ministry and all those who continue to fight the war on drugs.

The session then outlined the efforts of various stakeholders in the implementation of health service initiatives and the promotion of primary healthcare.

Source: https://www.gdnonline.com/Details/949561/GREEN-SHOOTS---New-signs-of-economic-recovery