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Mon 29 Apr 2013 01:09 PM

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Bahrain awards extra $80m to combat rising costs

Additional funds are set to boost anti-inflation allowance for citizens in Gulf kingdom

Bahrain awards extra $80m to combat rising costs
(AFP/Getty Images - for illustrative purposes only)

Bahrain has awarded nearly US$80m extra in its budget to help citizens cope with rising costs, it was confirmed on Monday.

The Gulf state’s Shura Council and parliament joint financial commission decided to increase funds for the anti-inflation allowance by BD30m (US$79.56m), increasing it to BD105m, the Gulf Daily News reported on Monday.

The move followed a request by parliament chairman Dr Khalifa Al Dhahrani and was approved by Finance Minister Sheikh Ahmed bin Mohammed Al Khalifa, the Premier and the Crown Prince.

The move is designed to help citizens who are struggling against the rising cost of everyday items. Bahrain’s inflation rate was estimated at around 2.3 percent in February, compared to 3.9 percent in Saudi Arabia and 0.7 percent in the UAE.

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