MANAMA, Bahrain, Dec. 10, 2015 /PRNewswire/ --
As part of the Kingdom of Bahrain's recently announced programme of economic and fiscal reform, His Royal Highness the Crown Prince has chaired a meeting of the Government Executive Committee, during which the final report of the six government task forces, responsible for reducing government expenditure, was accepted. The report includes a series of short-term and medium-term measures to reduce government expenditure by 30% and improve efficiency across entities.
The Kingdom of Bahrain is implementing a comprehensive programme of structural economic and fiscal reforms to further strengthen its long-term development. The programme is underpinned by three pillars: streamlining government expenditure; redistributing government subsidies; and a series of economic reforms and infrastructure projects worth more than $32bn to increase investment and growth.
The programme includes detailed reviews of how government's administrative spending can be reduced and redirected to areas that deliver increased economic returns. Work in this area has already led to a reduction in the number of government ministries and the merging of ten government entities.
The Crown Prince noted that the target to reduce expenditure by 30% demonstrates the government's commitment to a sustainable fiscal position. Over the past two months the government task forces have conducted in-depth spending review meetings and site visits to assess government efficiency.
The Crown Prince reiterated that fiscal reform efforts must start from within government and that the implementation of the recommendations will modernise administrative procedures across government.
NOTES TO EDITORS
Spending Review Task Forces
Reduced number of government ministries
Merging of government entities