HRH Crown Prince Chairs EDB’s Executive Committee Meeting

His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince, Deputy Supreme Commander and the Economic Development Board (EDB) Chairman today requested the Finance Ministry and all the governmental economic and financial institutions to work towards increasing the kingdom’s growth rate within the next two years.

Chairing the EDB’s Executive Committee’s meeting at Al Riffa Palace, in the presence of Deputy Premier Shaikh Mohammed bin Mubarak Al Khalifa, HRH Crown Prince said he was optimistic and reassured regarding the kingdom’s monetary and financial stability, calling for the necessity to pay attention to ways of spending and investing during the next two years in line with His Majesty King Hamad bin Isa Al Khalifa’s directives to give priority to providing the citizens with the best services and increasing productivity. HRH Crown Prince lauded the constructive initiatives and the tremendous efforts exerted by the financial and economic officers during the Global Financial Crisis, which created an economic stability in the kingdom.

During the meeting, the Finance Minister Shaikh Ahmed bin Mohammed Al Khalifa gave a detailed presentation on the mechanisms of preparing the kingdom’s budget for the fiscal years 2011 and 2012, reviewed the general goals of the budget, which, he said, should match HM King Hamad’s directives outlining its priorities.

Next, Shaikh Mubarak hailed the Finance Minister and his work team’s endeavors in outlining the budget’s mechanisms. After that, the meeting discussed two draft laws pertaining to the general rules of personal data analysis and competition encouragement and protection. In the end, HRH Crown Prince suggesting referring the two draft laws to the Cabinet’s Legal Committee.