Finance Minister: We are Working on Receiving Second Payment of Gulf Support Program Funds
2019-03-01 - 6:57 p
Bahrain Mirror: Minister of Finance and National Economy Salman bin Khalifa Al Khalifa said that "work is underway to receive the second payment of the Gulf Support program soon".
He confirmed in a statement to the Al-Watan newspaper that they received the first payment of the Gulf Support Program and are working now to receive the second payment.
It is to mention that Bahrain received this support in a form of soft loans to finance the Bahraini Government financial balance program, which aims at achieving public finance stability and further spur economic growth, according to performance standards and special indicators.
The framework arrangements for financial cooperation between the Governments of Saudi Arabia, the UAE, Kuwait, Bahrain and the Arab Monetary Fund (AMF), as an advisory body, were previously signed.
According to published information, this support aims at contributing to achieve the goal of balancing between government's revenues and expenditures by 2022 through financing the financial balance program adopted by the competent authorities in the Kingdom of Bahrain.
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