News Coronavirus watch30 Jun 2020

Bahrain extends economic stimulus package

| 30 Jun 2020


Bahrain minister of finance and national economy Salman bin Khalifa Al Khalifa has announced the extension of stimulus measures to mitigate the economic impacts of COVID-19 and to support private sector jobs and citizens for three more months.

The Bahrain government will support 50% of salaries for insured citizens employed in the private sector working for companies most affected by the coronavirus, under a scheme administrated by the Ministry of Labour and in cooperation with relevant entities, for a three-month period starting from July 2020.
 
The government will also meet citizens’ domestic electricity costs for primary residences, up to the full cost of the same period the preceding year, for the same three-month period.

In addition, economic sectors most adversely affected by the repercussions of COVID-19 will be further supported by the Labour Fund (Tamkeen) according to the controls and conditions approved by its board of directors.

Mr Al Khalifa said the additional package of measures will further reduce pressure on householders and families across the kingdom, while at the same time supporting the many jobs of those employed in the private sector as their employers continue to respond to the unique economic challenges posed by COVID-19. 

"Our COVID-19 response objectives remain unchanged – to protect the health and employment of our citizens, and the long-term strength of our economy. Until such time as we can return Bahrain to delivering strong and sustainable economic performance and growth, the government remains committed to early, targeted and effective economic intervention and support,” he said.

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