Wednesday 23 May 2018

Bahrain moves to cut unnecessary spending

Manama, March 21, 2014

An effective plan to rationalise spending and expenditure, reduce the size of government bodies and decrease the number of high positions to avoid unnecessary costs was ordered by Bahrain's Prime Minister yesterday.

The plan also includes efforts to eliminate duplicated work and spur the national economy, a report in the Gulf Daily News, our sister newspaper said.

This plan came as His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa chaired a work meeting in which he discussed best ways to reduce public debt and address the budget deficit.

A decision was taken to keep them at reasonable levels to ensure that they do not reflect negatively on the general economic situation of the kingdom or affect confidence in its credit rating, the report said.

The Finance Ministry and the Central Bank of Bahrain were urged to collaborate with relevant bodies to prepare the plan.  -TradeArabia News Service

Tags: Bahrain | government | Spending |

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