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  • 10-02-19

    Bahrain vows focusing on cost control to balance budget

    (MENAFN) Bahrain government will concentrate on "stringent cost controls" to balance its budget, Bahrain's Minister of Finance and National Economy informed Bloomberg Television in an interview.

    Shaikh Salman bin Khalifa Al Khalifa stated that the government has reduced the deficit by 35 percent in 2018 as part of the strategy to balance the budget by 2022.

    "It is very important to ensure we maintain spend where that spend drives economic growth, creates jobs or provides essential services or subsidies, while at the same time ensuring we revisit any areas of operational expenditure where we can put more pressure," he informed Bloomber Television on the sidelines of the World Government Summit in Dubai.

    He affirmed the country is still assessing funding requirements for 2019 but will pressure the bond market "opportunistically."

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