The executive and legislative branches held their first joint meeting to discuss a draft law approving the state’s budget for the fiscal years 2023-2024.
The draft law was attached to Decree 34/2023, which was referred to the Shura and representatives’ councils in accordance with the constitutional and legal frameworks, following the approval of the cabinet.
The meeting was chaired by Speaker Ahmed bin Salman Al Musallam, Shura Council Chairman Ali bin Saleh Al Saleh, Speaker of the Shura Council, and Deputy Prime Minister Shaikh Khalid bin Abdullah Al Khalifa.
The Speaker affirmed the continuation of implementing the economic recovery plans and the financial balance program and directing all these results and their positive impact on the living standards of the Bahraini family, as they constitute a guiding light for national action.
Al Musallam expressed deep thanks and gratitude for the efforts of the government headed by His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, in preparing the state’s budget for the fiscal years 2023-2024, in which included financial stability and positive economic growth, and the creation of opportunities promising citizens, working to develop financial and economic support programs, and achieving a financial balance program.
He affirmed the keenness and readiness of the legislative branch to discuss and prepare a draft law approving the state’s budget for the two fiscal years 2023-2024, to achieve the royal directives to reduce the economic burdens on citizens, and subject all programs to further development, in a way that meets the basic needs of citizens and provides them with a decent life.
Shura chairman affirmed that the consultative meetings and bilateral meetings between the legislative and executive branches will contribute to formulating a consensual vision on the state’s budget for the fiscal years 2023-2024.
Al Saleh noted that it will achieve the lofty aspirations of His Majesty King Hamad bin Isa Al Khalifa, and what His Majesty affirms, that the citizen is the pillar and foundation of development.
He praised the keenness of the government, headed by His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, to exchange views and ideas that lead to the optimal investment of financial resources, and ensure efficiency and ability to implement the initiatives and projects included in the government program.
The chairman indicated the importance of concerted efforts and work to enhance the economic growth of Bahrain, praising the emphasis of the cabinet on taking into account the development of financial and economic support programs and directing support to those who deserve it to meet the needs of citizens.
The deputy prime minister affirmed that a draft law approving the state’s budget which was referred by the cabinet to the legislative branch, embodies a priority of joint national action.
He highlighhted the positive effects of this project that support the continuation of achieving the goals of the comprehensive development process led by His Majesty King Hamad bin Isa Al Khalifa, and the follow-up of His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister.
Shaikh Khalid pointed out to the government’s keenness to be fully and permanently ready to cooperate with the legislative branch; with the aim of reaching consensuses that contribute to achieving the good and development of the country and the citizen.
He explained that the referral of the draft law approving the state’s budget to the legislative branch, marking the start of a new budget cycle, comes in light of the national economy’s ability to achieve unprecedented positive results that are the highest in the history of Bahrain, in terms of the non-oil sector’s superiority in contributing effectively to the economy of Gross domestic product at constant prices increased by 83.1%, which reflects the efforts exerted to expand the scope of partnership between the public and private sectors to develop non-oil economic sectors, and as one of the results of work in accordance with the initiatives of the Fiscal Balance Program.
Shaikh Khalid bin Abdullah explained that it was taken into account, when preparing the state’s budget draft law the maintenance of financial stability and positive economic growth, creation of promising opportunities for citizens, development of financial and economic support programs to raise the efficiency of directing support to eligible citizens, adhere to the financial balance program, and continue working to develop performance and quality of government service and its sustainability.
Finance and National Economy Minister Shaikh Salman bin Khalifa Al Khalifa presented the objectives of achieving financial sustainability, the results of implementing the fiscal balance program, the main axes for preparing the general budget and the basis for its estimation, and a summary of the most important projects that will be implemented during the next budget cycle.
He affirmed that the interest of the country and the citizen is a permanent priority in the various paths of development, and for this reason efforts continue to achieve the set goals through the implementation of plans and programs to reach the desired aspirations, and the adoption of more initiatives aimed at achieving financial sustainability.
Shaikh Salman stressed that “optimism” is the title of the next stage, despite the global challenges facing everyone, which Bahrain will be able to overcome by working in one team spirit, including enhancing prospects for cooperation between the executive and legislative branches.
Source: Bahrain News Agency