Manama: The Committee on Financial and Economic Affairs of the Council of Representatives, led by MP Ahmed Sabah Al Salloom, received a delegation from the IMF Article IV Consultation Mission as part of its annual visit to the Kingdom.
According to Bahrain News Agency, the delegation received a comprehensive overview of the committee's efforts to reinforce the legislative and regulatory framework. These efforts are aimed at supporting financial and economic sustainability, aligning with global developments, and contributing through legislation to stimulate investment, diversify national economic resources, and enhance financial performance efficiency. This initiative reflects the government's commitment to ensuring long-term economic stability.
The committee emphasized that the meeting underscores Bahrain's continued cooperation and openness with international financial institutions. This is in line with directives from His Majesty King Hamad bin Isa Al Khalifa and the follow-up of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister. The focus remains on supporting economic reforms, enhancing sustainable financial growth, and elevating Bahrain's regional and international standing.
Discussions during the meeting included the state's general budget for the financial years 2025 and 2026, additional measures to increase public revenues, and upcoming reforms to support sectors and groups most in need. The goal is to ensure social justice and maintain citizens' standard of living.
Furthermore, the meeting examined necessary legislative amendments to enhance financial stability and stimulate economic growth. There was a focus on updating legal frameworks to keep pace with global economic shifts and ensuring the effectiveness of economic legislation in supporting the investment environment, achieving a balance between financial stability and economic sustainability.