Bahrain annouces $11.3bln package to back economy – ZAWYA

Bahrain annouces $11.3bln package to back economy – ZAWYA

The other initiatives include doubling the Liquidity Fund to BD200 million, withdrawing excess from the Unemployment Fund to support the wages of Bahrainis in the private sector, and exempting tourism facilities from tourism fees for three months among others.. "The majority of these initiatives will be funded through the CBB initiatives and following approval from the legislative authority, also from funds - they will not impact the deficit in the national budget.". "The Covid-19 outbreak is impacting world economies and the aim of these initiatives is to ensure Bahraini citizens are secure in their jobs and continue the economic wheel.. "The government will pay electricity and water bills for all accounts for the coming three months," he said.. "An urgent proposal will also be submitted to the legislative authority to take excess from the unemployment insurance to support wages for the next three months," said Mr Humaidan.. "More than 100,000 to 105,000 citizens working in the private sector will come under this package to support their wages and ensure job security..