Saudi Arabia, Kuwait, UAE to support Bahrain through fiscal balance program

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Gulf finance ministers said on Wednesday they would support Bahrain’s financing needs after reviewing its proposed fiscal balance program at a meeting in Manama.

“The ministers reaffirmed their countries’ commitment to supporting the financing needs of a fiscal balance program with targeted indicators,” they said in a statement.

The ministers were from Saudi Arabia, the United Arab Emirates, Kuwait and Bahrain.

The Gulf Cooperation Council members have been discussing aid to Manama for more than a year.

The statement also read that the step came “based on brotherly ties, constructive cooperation and a common interest, and to execute what has been committed to considering all options available to provide the necessary support, and finalizing working on designing an integrated program to enhance fiscal stability and further stimulate economic growth and development in the Kingdom of Bahrain.”

In late June, the three countries said in a statement they were considering “all options” to support Bahrain and finalize an integrated aid program, which they said would soon be announced.

Source: english.alarabiya.net

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