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Mon 20 Oct 2008 07:22 AM

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Bahrain's king calls for extra budget for new homes

King Hamad urges action in bid to eradicate waiting lists by 2015.

Bahrain is to invest millions into extra housing in a bid to cut the waiting list for government homes.The pledge came from King Hamad as he reopened the National Assembly on Sunday, following the summer recess.

He said an extra budget would be created to build new homes, on top of whatever is allocated within the national budget for 2009/2010, Gulf Daily News reported on Monday.

The aim would be to eradicate the waiting list by 2014, Housing Minister Shaikh Ibrahim bin Khalifa bin Ali Al Khalifa told the paper.

New measures to drive down inflation, already the lowest in the region, were also promised by King Hamad.

The King added that he was optimistic that Bahrain could weather the storm and would do everything it could to protect its residents from the global crisis that has hit other countries.

He said that the government would soon present its economic strategy, prepared by the Economic Development Board (EDB).

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