Zainab Zainuddin
With careful reading of the national economic scene, which has emerged more clearly through the outputs of the economic forum held by the Shura Council under the title “Towards a Sustainable Sustainable Economic Development” that we can describe as the road map that provided clear visions of the structural system of the Bahraini economy with its sustainable perspective.
According to economic challenges and opportunities in light of the regional and international competition that attracts to attract investments and capital, the economic standard presented by His Excellency Sheikh Salman bin Khalifa Al Khalifa, Minister of Finance and National Economy in the forum, comes to express a tripartite perspective of the integrative relationship between the executive and legislative and the private sector as the main poles that move the national economy for the sustainability within the ambitious and safe limits By moving from the stage of economic recovery to the stage of growth and progress in the national economy in its various major axes.
His Excellency the Minister of Finance reviews the march of the national economy, which is the economic vision between 2004-2024, with its challenges, opportunities and efforts to establish a strong economy based on sustainability, justice and competitiveness is a realistic review of what our national economy has gone through in light of a volatile and unstable international economic environment, in which the Bahraini economy has survived during many economic changes, which ravaged many international economies as we all saw.
Perhaps the best thing we cite on the national economy’s recovery is the high percentage of economic income revenues from non -oil sectors from 83% as a local output to 86% as an indication of the success of the economic policies of the financial balance program, and that non -oil economic revenues amounted to 41% of the gross output.
His Excellency also presented an approach to the new stage of strategic planning for the sustainability of the national economy in the long term, which is to cover repeated expenses by 100% in order to sustain public financial revenues in parallel with the expansion of government revenues and the development of mechanisms to gradually reduce public debt to reach less than 60%.
His Excellency has provided a map of government trends during the coming period to motivate the main sectors of the economy represented in the development of the financial services sector and keep pace with the industrial sector in order to bring about positive changes in the national trade balance, and to benefit from the technology sector and digital communication and develop the tourism sector in a competitive manner and attract logistical services projects to be the preference of their headquarters in the Kingdom of Bahrain with the need to expand oil exploration, to bring about economic changes Concrete.
The diagnosis of His Excellency highlights the volume of responsibility as a necessity for the consistency between legislation and implementation and the involvement of the private sector to integrate the development process and obtain outputs, most notably the development of the human element, as His Excellency emphasized that training and qualifying the people of the country to obtain qualitative jobs is a priority for His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince, Prime Minister, and the outputs aim to face the challenges of inflation and pay public debt, which is a great responsibility. His Excellency is able to lead the economic stage for the growth of the national economy.
Today we are facing a major responsibility; Because we will be facing economic transformations that require the implementation of the ambitious vision that His Excellency reviewed to work seriously to move forward to reach the upcoming economic vision 2050 dependent on strong national economic components to implement more development and service projects and increase financial involvement for those who are entitled to ensure a decent and economic life for all the people of the country with God’s help.
