Economic diversification will create prolonged-phrase chances for the region

Manama, Jan. 27 (BNA): His Excellency Shaikh Salman bin Khalifa Al Khalifa, Minister of Finance and Countrywide Economy, now participated in the 4th edition of the Long term Expenditure Initiative in Riyadh, Saudi Arabia. 

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His Excellency took element in the intercontinental meeting alongside panelists H.E. Mohammed Al-Jadaan, Minister of Finance for Saudi Arabia, Jason Greenblatt, previous White Household Special Envoy to the Middle East, and Thomas Barrack of Colony Capital. 

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Outlining the Kingdom of Bahrain’s financial diversification achievements considering that the launch of the Bahrain Economic Progress Board, chaired by His Royal Highness the Crown Prince, H.E. Shaikh Salman famous the sturdy advancement witnessed in Bahrain’s non-oil overall economy, with the non-oil overall economy now representing close to 90% of Bahrain’s GDP, up from 55% in 2000. 

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His Excellency went on to emphasize the essential position economic diversification plays in supporting and conference the aspirations of the region’s youth, noting their desire to profit from possibilities, not hand-outs. 

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On the lookout to the potential as effectively as Bahrain’s present Fiscal Balance Program, His Excellency the Minister outlined the want for a recalibration of the romantic relationship amongst economic expansion and governing administration revenues 

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His Excellency called for efforts to develop a good correlation concerning economic development and govt revenues leading to greater economic steadiness, innovation, and enhanced options for all. 

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WHQ

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