The executive and legislative powers held a joint meeting today to continue consulting on the issue of the state’s general budget for the two-year-old years 2025-2026. The meeting was chaired by the House of Representatives, Mr. Ahmed bin Salman Al-Muslim, Speaker of the House of Representatives, and by the Shura Council, Mr. Ali bin Saleh Al-Saleh, Speaker of the Shura Council, while the government side Sheikh Salman bin Khalifa Al Khalifa, Minister of Finance and National Economy. The meeting also witnessed the attendance of a number of those with the ministers, the main deputies of the Shura and Representatives, the head and members of the Financial and Economic Affairs Committees in both chambers, and a number of officials.
At the beginning of the meeting, Mr. Ahmed bin Salman Al -Muslim, Speaker of the House of Representatives, stressed that the interest of the Bahraini citizen and improving the standard of living of the Bahraini family, providing promising job opportunities, achieving growth for the national economy in a sustainable manner, and implementing economic and financial plans and programs, are the pillars of joint action and constructive cooperation between the legislative and the executive authority, during the discussion of the views of the draft general budget law for the state for the two years of money 2025-2026, In order to achieve the royal aspirations of His Majesty King Hamad bin Isa Al Khalifa, the King of the Great Country, may God protect and preserve him, and support and follow -up of His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince, Prime Minister, may God protect him.
He praised the Speaker of the House of Representatives, with the methodology of work and discussions, and the presentation of the ideas and visuals presented by the members of the House of Representatives and the Shura Council with the government team, and the desired goals that everyone seeks to achieve, for the sake of the country and the citizen, pointing to the continuation of consultative meetings next week, according to the plan and joint work program.
For his part, Mr. Ali bin Saleh Al -Saleh, Chairman of the Shura Council, indicated that the royal directives of His Majesty King Hamad bin Isa Al Khalifa, the king of the country, the country, may God protect and preserve him, is the approach that the Shura Council is going on in studying and discussing the draft law of the state’s general budget, confirming the Shura Council’s keenness to implement the royal directives, in the interest of the country and the citizen, and contributes to sustaining National gains, and achieve progress and development in all fields.
The Chairman of the Shura Council stressed the importance of joint work and effective cooperation with the esteemed government, headed by His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince, Prime Minister, may God protect him, in discussing visions and initiatives within the state’s general budget project, in line with the national interest.
The Chairman of the Shura Council explained that the state’s general budget project constitutes an essential pillar for achieving financial and development sustainability, and reflects the commitment of the executive and legislative authorities to direct financial resources towards national priorities, praising the fruitful cooperation between the legislative and executive authorities, attention and focus on enhancing sustainable financial balance, and working to ensure the continuity of development projects, support the vital sectors, enhance the economic environment And investment is to benefit the homeland and citizens.
For his part, Sheikh Salman bin Khalifa Al Khalifa, Minister of Finance and National Economy, affirmed that the current stage requires a double effort by the executive and legislative authorities, and to work together to continue to enhance cooperation and joint work to reach uniform consensus aimed at achieving the supreme interest of the country and the citizen in a way that contributes to achieving the goals of the comprehensive development process led by His Majesty King Hamad bin Isa Al Khalifa, the king of the country. God and his sponsors, and the follow -up of His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince, Prime Minister, may God protect him.
He pointed out that the main pillars and goals that the state budget bill for the state for the two financial years 2025-2026 is to continue building on the achievement initiatives and development projects to increase the growth of the national economy and create promising opportunities for citizens, appreciating the concern that members of the executive and legislative authorities express to continue to enhance cooperation and work in the spirit of one team to achieve the desired goals.
During the meeting, the importance of supporting efforts seeking to enhance economic growth was emphasized, and the implementation of all programs and development initiatives that are in the interest of the country, in addition to the keenness that the state budget bill for the state for the two-year 2025-2026 principles of financial sustainability takes into account the continuation of opportunities for citizens, and to raise the efficiency of support for citizens, in order to achieve the desired goals.
In this context, a number of proposed initiatives aimed at achieving financial sustainability were reviewed, after the completion of the financial balance program by reaching an initial surplus in the public budget by reducing expenses and increasing non -oil revenues.
The initiatives that were discussed included direct and critical support to citizens, while seeking to maintain the stability of prices for basic goods and services.
These initiatives include the creation of a “citizen” account for its entitlements to protect them and continue their support, and transfer support programs to this account in a critical manner. Where clear standards and mechanisms will be set in cooperation with the legislative authority.
In addition to liberalizing gasoline prices according to international prices, while providing cash support to citizens through the “citizen account” for its entitlements, the price of natural gas will be corrected with the aim of encouraging raising energy efficiency in factories and installations, while continuing to support LNG (cooking gas) and kerosene used in popular bakeries and diesel for fishermen
400 million Bahraini dinars will be invested during the next two years with projects for transporting and distributing electricity and water, with cash support for citizens of electricity and water in the first residence through the “Citizen Account” for those who deserve it.
To achieve the goals of the zero neutrality of carbon emissions, a carbon border pricing regulation will be set for companies with a fixed amount of emissions that exceed the amount specified per year.
In order to diversify revenue sources, taking into account the maintenance of the business environment, supporting the growth of the private sector and continuing to increase the creation of employment opportunities for citizens, the necessary legislative measures will be taken to expand the scope of corporate income revenues to include a specific segment of companies based on their annual revenues and profits. In order to preserve the lack of influence on national employment, the exclusion of the main sectors whose impact on national employment will be taken into account, and incentives are given to increase the employment of national workers.
The revenues collected from the added value were also reviewed, as the percentage of the contributions of institutions, residents and visitors represented 924%, and the percentage of citizens with medium and limited income for the same period represented only 2%, as a result of excluding commodities and basic services from the added value of 94 basic commodities and 1300 government services.
