Bahrain will focus on “stringent” cost controls to help cut its budget deficit, according to the country’s finance minister. Sheikh Salman bin Khalifa Al-Khalifa, minister of finance and national economy, told Bloomberg Television that Bahrain will also use the investment to stimulate growth.
He said the government has trimmed the deficit by 35% last year as part of the plan to balance the budget by 2022.
“It is very important to ensure we maintain spend where that spending drives economic growth, creates jobs or provides essential services or subsidies, while at the same time ensuring we revisit any areas of operational expenditure where we can put more pressure,” he told Bloomberg Television on the sidelines of the World Government Summit in Dubai.
He said the country is still evaluating funding requirements for 2019 but will tap the bond market “opportunistically.”
Source: Trade Arabia