DUBAI: Bahrain on Sunday detailed a new economic growth and fiscal balance plan that pushes a zero-deficit target back by two years to 2024 from 2022 and increases value-added tax to 10 percent from 5 percent.
A government statement said the updated fiscal balance program also included reducing expenditure and project spend, streamlining distribution of cash subsidies to citizens and new government services revenue initiatives.
It said a strategic projects plan would catalyze over $30 billion of investments while a regulatory reform package aimed to support $2.5 billion of foreign direct investment by 2023.
