By Staff writer
Kingdom has also agreed to pay electricity costs over three-month period from July
Bahrain’s government will pay 50% of salaries of private sector employees working for companies hardest hit by the coronavirus.
The extension of stimulus measures, announced by the kingdom’s Minister of Finance and National Economy, Shaikh Salman bin Khalifa Al Khalifa, will run for three months, starting from July.
The government had previously revealed it was spending $570 million in paying the salaries of all 100,000 of its citizens working in the private sector from April to June, to cushion the financial impact of the Covid-19 pandemic.
Al Khalifa said: “We review our necessary and targeted economic interventions on an ongoing basis, always ready to make adjustments or take additional steps, where we anticipate emerging pressures or particular sector requirements.”
Over the same three-month period, the government has also agreed to meet citizens’ domestic electricity costs for primary residences, up to the full cost of the same period the preceding year.
Economic sectors most adversely affected by the repercussions of Covid-19 will be further supported by the Labour Fund (Tamkeen) according to the controls and conditions approved by its board of directors.
Al Khalifa added: “Until such time as we can return Bahrain to delivering strong and sustainable economic performance and growth, the government remains committed to early, targeted and effective economic intervention and support.”