What is the name of the comprehensive program launched by the Bahraini government in 2018, supported by 10 billion USD in regional GCC funding, to balance the state budget?
Answer and explanation
Correct answer: C. Fiscal Balance Program
- Step 1: The Fiscal Balance Program (FBP) was launched in October 2018 in coordination with Saudi Arabia, the UAE, and Kuwait.
- Step 2: It introduced spending efficiency, targeted subsidies, VAT implementation, and structural fiscal discipline to achieve a balanced national budget.
Answer
Fiscal Balance Program.
Why not the others: 'Economic Recovery Plan' was a subsequent 2021 post-pandemic stimulus plan; 'National Energy Strategy' focuses on renewable energy; 'Clean Fuels Initiative' is a refining upgrade program.
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