Fiscal reforms to help strengthen long-term development

The Governor of the Central Bank of Bahrain, Rasheed Mohammed Al Maraj, today said that the fiscal reforms being implemented by the Government of Bahrain, which include changes to the fees and prices associated with gas, electricity, water and petrol, would make a significant contribution to reducing levels of government expenditure and strengthening the Kingdom’s long-term development.

“As credit rating agencies have noted in their most recent reports, the Kingdom of Bahrain has implemented a number of structural reforms to address the fiscal challenges faced by the country and wider region, following the unprecedented drop in oil prices,” Al Maraj said.

“Today’s announcement by the government will make an important contribution towards further reassuring credit ratings agencies and international investors that Bahrain is committed to achieving long-term fiscal stability,” Al Maraj told Bahrain News Agency.