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Bahrain Approves Four-year Action Plan, Focused on Private Sector

Bahrain Approves Four-year Action Plan, Focused on Private Sector

Friday, 4 January, 2019 - 10:00

The Bahraini Cabinet held Thursday an exceptional session, chaired by Bahrain's Crown Prince Salman bin Hamad Al Khalifa.

The session was dedicated to discuss the 2019-2022 Government Action Plan, which was approved and referred to the parliament.

The plan focuses on empowering the private sector, elevating the government work-environment, enhancing investment climate, cutting down expenditures, and exploiting water resources.

The government seeks to implement a four-year action plan that bolsters the Fiscal Balance Program launched in October 2018 and funded by Saudi Arabia, UAE, and Kuwait.

To ensure fiscal balance in Bahrain, the program grants the kingdom USD10 billion to achieve the balance between expenditures and government revenues by 2022.

At the beginning of 2019, Bahrain started applying the value-added tax (VAT), which is expected to add to the treasury BHD300 million (USD796 million) in this year.

Earlier, the Bahrain Economic Development Board forecast real GDP growth of 3.4 percent in 2018 and 2.8 percent in 2019.

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