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Bahrain steps up efforts to revitalise economy

Manama, May 16, 2011

Bahrain is stepping up efforts to bolster its international credit ratings and revitalise the national economy.

The Cabinet yesterday approved a string of measures to promote Bahrain's standing and address economic developments issues.

The strategy was announced as His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa chaired the weekly Cabinet meeting at Gudaibiya Palace.

The financial and economic affairs committee was instructed to follow up on the implementation of the blueprint in co-ordination with all ministries.

The panel was given the green light to co-operate with leading local and international rating agencies.

The session was also briefed on the current growth momentum of the economy, which is in line with development requirements.

The Cabinet session was updated on the strong financial and banking position in Bahrain, hailing security agencies for restoring stability in the kingdom in the aftermath of the recent unrest.

The decree issued by His Majesty King Hamad to lift the State of National Safety as from June 1 was also praised.

The session reviewed the recommendations submitted by Deputy Premier and Financial and Economic Affairs Committee head Shaikh Mohammed bin Mubarak Al Khalifa.

Central Bank of Bahrain Governor Rasheed Al Maraj also gave an update on Bahrain's economic and financial situation. - TradeArabia News Service




Tags: Bahrain | economy | Cabinet | credit ratings |

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