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Bahrain pumps another $30m to battle inflation

Manama, July 7, 2008

Bahrain's government pumped in an additional BD30.5 million ($80.8 million) into the fund to protect families against inflation.

This takes the fund from BD40 million to BD70.5 million, following a decision at yesterday's weekly cabinet session, chaired by Prime Minister Shaikh Khalifa bin Salman Al Khalifa.

It follows instructions from His Majesty King Hamad to "speed up cash payouts for eligible recipients."

An additional credit has also been approved as part of the general budget.

Bahraini families whose incomes are below BD1,500 a month are entitled to BD50 a month for a year, under the scheme approved earlier this year by parliament and Shura Council.

The aim of the scheme is to provide families a buffer against rising prices.-TradeArabia News Service




Tags: Bahrain | inflation | fund | pump |

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