Bahrain will step up efforts to boost its competitiveness and promote economic performance, said HRH Prime Minister Prince Khalifa bin Salman Al Khalifa, while issuing directives to launch trade, economic and investment incentive packages.

He urged more efforts to improve Bahrain's financial ratings, taking into account development, economic freedom, competitiveness and governance indices at the weekly Cabinet meeting at Gudaibiya Palace.

The session approved the final results of the consolidated budget for the fiscal year ending on December 31, 2010.

It also approved a report on the execution of the 2010 budget and referred it to the legislature.

The Cabinet noted the tangible growth of revenues and the reduction of expenses, rate of inflation and budget deficit.

The Premier instructed all ministries and government departments to notify the ministerial committee for financial and economic affairs in case they had exceeded their allocated budgets. – TradeArabia News Service