Bahrain Authorities Seek Signs of Economic Recovery Prior to Implementation of Revenue-Boosting Strategies: Finance Ministry

Bahrain’s Finance Minister, Sheikh Salman bin Khalifa al Khalifa, has stated that the Government of Bahrain will do everything in its power to ensure that the projected recovery for 2021 takes effect, before it decides to look at revenue generating strategies. Apart from implementing value added tax in 2019, Bahrain has not looked into any other revenue-generating options for its economy.

Despite support from its Gulf Cooperation Council (GCC) neighbors in 2018, comprising of a USD 10 billion bailout package (to be implemented in phases), Bahrain’s public finances have remained under pressure due to falling oil prices, with this being further exacerbated by COVID-19.

Having deployed a stimulus package of around USD 11.4 billion in March 2020 (29.6% of annu...