The Bahrain budget 2011-12 is the biggest in this Middle East country s history with an allocation of 6 billion Bahraini dinars and economic analysts feel that this should get people interested in the same.
Importance of Bahrain Budget 2011-12:
The Bahrain budget 2011-12 is more relevant compared to the previous versions as far as the daily lives of the common people in this Asian country are concerned.
The present budget touches important sectors such as educational projects, healthcare, housing, and subsidies.
Bahrain Budget 2011-12: Strategic Funding:
The 2011-12 Bahrain budget has been based on strategic funding, which is supposed to help in carrying out the short and long term developmental projects that are an integral part of the Economic Vision 2030 plan and very crucial for the Bahraini people as well. The budgetary allocations have been executed in such a way that these projects are given the maximum importance.
Bahrain Budget 2011-12: Private Sector
The private sector will be a major beneficiary of the 2011-12 Bahrain budget, which is aiming to make the country a top logistics destination in the region and thus boost the economy significantly. From now on the privately held companies will be permitted to get involved in major projects on tourism and other developmental initiatives. These projects are fairly important because of their capability to keep the economy stable.
Bahrain Budget 2011-12: Public Sector
The 2011-12 budget establishes a link between the strategic plans laid down by the ministries and the economic strategies of the central government. It is expected that the budgetary allocation will be done as per national requirements and the monetary resources will be used in a more accountable and transparent manner.
It is also assumed that the strategic plans will make ministries more responsible when it comes to the various initiatives and goals that have already been mentioned in their respective plans. This will also help in controlling the expenses and make the overall process achieve better results.
Bahrain Budget 2011-12: Housing Projects
The housing projects make up an important sector of the present budget. BD 360 million have been allocated for this sector and much of this amount will be used to construct housing units at Hamad Town, Zayed Town, Nuwaidrat, Wadi Assail, East Riffa, and Al-Markh.
136 million Bahraini dinars have also been allotted for assisting people who are capable of receiving housing allowances and lesser mortgage rates. Some parts of this amount will also be spent in other housing support projects and services.
Bahrain Budget 2011-12: Subsidies
With an allocation of 2400 million Bahraini dinars, subsidies have received the lion s share of the 2011-12 budget. This money will be used in food, water, electricity, and oil and gas subsidies apart from several initiatives to financially assist the citizens.
Bahrain Budget 2011-12: Education and Health
The allocation for the educational sector is BD 660 million. This sum will be used for helping the schools, students, teachers, and other educational institutions to improve their performance. The budget has earmarked approximately 534 million Bahraini dinars for the health sector.
Majority of the allotment in this sector will be spent in the following areas:
Improving health services
Operating the King Hamad General Hospital
Setting up the National Center for Cancer
Running the National Health Regulatory Authority (NHRA)
Setting up health center at each governorate
Establishing a blood diseases unit