Saudi Crown Prince Supports So-Called "Serious Financial Reforms" in Bahrain
2018-10-06 - 8:47 p
Bahrain Mirror: Saudi Crown Prince Mohammed bin Salman Al Saud expressed support for what he described as "serious reforms" made by Bahrain to tackle the financial crisis.
Bahrain has taken a number of measures including lifting subsidies on major commodities, fuel and energy. It has also cut costs on some services, including education and health.
"We believe that they (Bahrain) really made serious reforms last year. We think they have made great progress. They have a strong and wonderful team. I have told the Bahraini King and Crown Prince that if you lay off or dismiss one of the members of the great economic team, we will hire him," said the Saudi Crown Prince.
Regarding Gulf support for Bahrain, he said in an interview with Bloomberg, "You will hear an announcement today in Bahrain. We can not abandon the GCC states. There will be a collective announcement of support for Bahrain from Kuwait, the UAE and Saudi Arabia. It will be in different categories."
The three countries set the condition that Bahrain should implement austerity measures including the implementation of VAT and reduction of public spending.
comments powered by Disqus