Prince Salman bin Hamad Al Khalifa, Crown Prince of Bahrain, stated "The Kingdom has not recorded negative growth in the economy despite the challenges that took place in 2011".
He mentioned, “In 2008, the Kingdom of Bahrain launched Vision 2030, which was based on the principles of competitiveness, justice and sustainability, and we know that if we want to achieve sustainability, we need more support," he said.
He recalled, "Bahrain succeeded in facing the disorders in 2011 and did not registered any negative growth. We have also addressed six areas of production, including energy, employment and laws that must work in parallel to the best global practices. "The levels of spending we have developed were not proportionate to the current situation, but we managed to achieve good growth last year, because of the diversification of our economy and oil which has become 80% of the GDP.”
"Today, oil represents 75% of Bahrain's revenues and this is unsustainable at the current expenditure level. Therefore, financial injection from the Gulf investment and support package will be a financial package to re-enable the economy to be sustainable until the next decade."
Source: Al-Arabiya.net
