Bahrain Parliament Calls on Govt. to Cancel Fuel Price Hike

Bahrain's National Oil and Gas Authority.
Bahrain's National Oil and Gas Authority.
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Bahrain Parliament Calls on Govt. to Cancel Fuel Price Hike

Bahrain's National Oil and Gas Authority.
Bahrain's National Oil and Gas Authority.

The Council of Representatives in the Kingdom of Bahrain submitted an urgent proposal to the Bahraini government to rethink the fuel price hike only a day after its approval.

The Council held its 15th weekly meeting Tuesday and allocated part of it to discuss the hike in gasoline prices, which some MPs considered sudden, especially after the National Oil and Gas Authority (NOGA) announced readjusting fuel prices for 2018 and raising them 12 and 25 percent.

Sheikh Khalid bin Abdullah Al Khalifa, Deputy Prime Minister and Chairman of the Ministerial Committee for Financial Affairs and Control of Spending, said that the coming days will witness a number of coordination and consultative meetings with the legislative authority aimed at restructuring the support and directing it to the beneficiaries from Bahraini families and citizens.

First Deputy Speaker Ali Abdulla al-Aradi chaired the parliament session.

The urgent proposal was submitted by MPs Isa Turki, Abdulrahman Boumjeed, Dheyab al-Nuaimi, Ali al-Muqla and Mohammed al-Emadi.

“The decision to raise prices was surprising,” Aradi told Asharq Al-Awsat, adding that the Council agreed with the government to gradually reduce subsidy on many goods and services, including gasoline.

He said that the deputies agreed on the government request to cancel the decision to increase the price of gasoline and find a way to support the Bahraini citizens, especially those with limited income.

"The council called upon the government to provide support to Bahrainis with limited income, especially in the field of energy," Aradi added, explaining that Bahrain's production of oil is limited and 80 percent of the revenues of the public treasury comes from oil.

It is therefore is necessary to ration subsidy it so that the social class, which deserves to be benefit from it, is not affected by such decisions.

“There is cooperation between the legislative and executive authorities, and the government always takes the council’s proposals into consideration,” he said.

After the NOGA’s increase in fuel prices, the cost of Mumtaz (95 octane) petrol rose from 160 fils to 200 fils per liter and Jayyid (91 octane) fuel rose from 140 fils per liter from the previous 125 fils.



Saudi Finance Minister: 2025 Budget Aims to Continue Expanding Strategic Spending

Al-Jadaan speaking at the press conference (Asharq Al-Awsat)
Al-Jadaan speaking at the press conference (Asharq Al-Awsat)
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Saudi Finance Minister: 2025 Budget Aims to Continue Expanding Strategic Spending

Al-Jadaan speaking at the press conference (Asharq Al-Awsat)
Al-Jadaan speaking at the press conference (Asharq Al-Awsat)

Saudi Finance Minister Mohammed Al-Jadaan outlined the objectives of the 2025 budget, emphasizing a continued focus on strategic spending for developmental projects aligned with sectoral strategies and Vision 2030 programs.
He added that the budget aims to support initiatives that deliver sustainable economic, social, and environmental benefits, while enhancing the business environment, improving the Kingdom’s trade balance, and increasing both the volume and quality of local and foreign investments.
Speaking at a press conference following the Cabinet’s approval of the budget, Al-Jadaan highlighted the government’s commitment to expansionary spending due to its positive impact on citizens. He noted that Saudi Arabia’s economy has become more resilient to fluctuations in oil markets, reflecting ongoing structural changes.
The non-oil economy is projected to grow by 3.7% by the end of 2024, he said, with non-oil activities contributing 52% to GDP during the first half of the current year.
The minister also revealed that since the launch of Vision 2030, non-oil revenues have increased by 154%. Oil’s share of GDP currently stands at 28%, and the nominal GDP has reached SAR 4.1 trillion, he remarked.

Moreover, Al-Jadaan said that private investment’s contribution to GDP has grown from 16% in 2016 to 24.7% today. The industrial sector is set to attract SAR 30 billion ($8 billion) in investments in 2025, alongside SAR 12.3 billion ($3.2 billion) in credit facilities to support Saudi exporters. Tourism has also emerged as a significant driver of economic growth, ranking as the second-largest contributor to the balance of payments after oil.
The Saudi minister emphasized the encouraging economic indicators, noting the surge in small and medium-sized enterprises driven by government spending. He reiterated the government’s cautious and conservative approach to budget preparation, reflected in revenue figures.
Structural changes in the Kingdom’s economy are beginning to yield tangible results, with a 33% increase in spending on strategies and programs aimed at achieving Vision 2030, according to Al-Jadaan. These efforts are expected to sustain economic growth, foster diversification, and further strengthen the Kingdom’s global economic standing, he stated.