Executive and Legislative Authorities Collaborate on Public Finance Initiatives

Manama: The executive and legislative authorities held a joint meeting today to discuss proposed initiatives to develop public finances. The meeting came in implementation of the vision of His Majesty King Hamad bin Isa Al Khalifa, which places the Bahraini citizen at the core and ultimate goal of comprehensive development, and in recognition of the directives of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, to continue developing social services for citizens, strengthen supporting programmes, mobilise national resources for the benefit of the people, preserve the middle class as a pillar of society, and prioritise Bahrainis in access to services and entitlements. According to Bahrain News Agency, the meeting was chaired, on behalf of the Council of Representatives, by Speaker Ahmed bin Salman Al Musallam; on behalf of the Shura Council, by Chairman Ali bin Saleh Al Saleh; and on behalf of the Government, by Deputy Prime Minister Shaikh Khalid bin Abdullah Al Kha lifa. The meeting was attended by key officials including Shaikh Salman bin Khalifa Al Khalifa, Minister of Finance and National Economy, several ministers, deputy speakers of both councils, members of the bureaux of the Shura Council and the Council of Representatives, and other officials. At the outset, Speaker Al Musallam highlighted the commitment of both authorities to fostering constructive cooperation for the Kingdom's and citizens' benefit, supporting the comprehensive development process led by His Majesty the King. He emphasized the directives of His Royal Highness the Crown Prince and Prime Minister to continue subsidising electricity and water for citizens' first homes and enhancing support for low-income groups, thereby improving living standards and income growth. He stressed the importance of preserving the middle class as a cornerstone of society, strengthening its purchasing power, and expanding empowerment and employment opportunities for citizens. The Speaker further noted that these dire ctives received parliamentary and public approval, reinforcing the principle of placing the Bahraini citizen at the center of development. This is pursued through well-planned and sustainable policies, productive dialogue, and continuous consultation with the legislative authority. He expressed pride in Bahrain's development achievements, driven by the efforts of Team Bahrain, the private sector, and the strategic partnership between state institutions and civil society. Chairman Al Saleh stated that the joint meeting reflects the partnership and integration between the executive and legislative authorities, serving the national interest and supporting the development, efficiency, and quality of social services. This approach aligns with the Royal directives for comprehensive development and socio-economic stability, with continuous follow-up by HRH the Crown Prince and Prime Minister. He commended HRH's emphasis on enhancing social services, prioritising Bahrainis, sustaining subsidies, and advancing inclus ive growth. The Deputy Prime Minister expressed pride in the cooperation between the authorities, supported by the Kingdom's comprehensive development process led by His Majesty the King. He conveyed HRH the Crown Prince and Prime Minister's greetings to both councils and appreciation for the legislative authority's role in national achievements. Shaikh Khalid bin Abdullah noted the implementation of several initiatives since the Fiscal Balance Programme's launch in 2018 and the Economic Recovery Plan in 2021, aimed at improving spending efficiency, reducing expenditures, and developing non-oil revenues. The meeting reviewed several initiatives aimed at improving public finances and citizens' living standards, including mechanisms for subsidising utilities, revenues on corporate profits, fuel price mechanisms, adjustments to natural gas pricing, and reviews of labour and sewerage fees. The focus remains on rationalizing government expenditures while maintaining service quality for citizens. Shaikh Salman b in Khalifa emphasized alignment with HRH's directives to develop social services and prioritize Bahrainis. The Minister of Finance highlighted the importance of fiscal sustainability and spending efficiency in supporting economic development, with citizens as the top priority. The meeting underscored cooperation with the legislative authority as essential to the development process, with economic growth translating into improved living standards and proper targeting of support.