The International Monetary Fund (IMF) has called upon Bahrain to take immediate steps to diversify its sources of income and not to rely on oil revenues, said a report.

It also urged Bahrain to undertake comprehensive studies to redirect government subsidies to those who need them the most, reported our sister paper Akhbar Al Khaleej.

The appeal was made during a meeting held by IMF consultative mission with the Bahrain parliament's financial committee, it added.

Parliament's financial committee member MP Mohammed Al Amadi said the mission, in charge of drawing up the periodic report on the kingdom's economic situation, has also called for a review of state budget policies in order to ensure continued economic growth and debt recovery and maintain Bahrain's international credit rating.-TradeArabia News Service