Bahrain government has announced its plan for the economic recovery, aiming at achieving fiscal balance by 2024, through a series of fiscal reforms, based on 5 pillars, contributing towards promoting economic recovery after Corona Pandemic and achieving Bahrain Vision 2030 as a precursor to achieve climate neutrality by 2060.

          The recovery plan includes reducing operating expenses, monetary support to the citizens, and doubling the value added tax from 5% to 10% starting from 2022. In this regard the government announced the establishment of strategic projects in new industrial spheres with more than about $ 30 billion, besides facilitating the process of issuing business permits through regulatory reforms.  

          It is noteworthy that it was intended that Bahrain would achieve fiscal balance by 2022, but the government postponed it to 2024 as a result of Corona Pandemic consequences.