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FINANCIAL NEWS
Bahrain passes policy to slash spending by 30pct
22 Jul 2016
(MENAFN) Bahrain has approved a proposed strategy to reduce government expenditures by 30 percent and improve efficiency across all entities, based on recent reports.
The proposed plan is in line with the objectives of the Kingdom’s economic and fiscal reform program; therefore it reflects the robust ability to polish sophisticated measures.
Accordingly, the kingdom has moved forward with implementing a comprehensive program of structural economic and fiscal reforms to reinforce its long-term development.
In more detail, the strategy consists mainly of three elements; streamlining government expenditure, redistributing government subsidies, and a chain of economic reforms.
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