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Annual Report 2019
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Financial Resources Directorate

Contributed in the high achievement related to efficient budget utilization and expanding and developing many new revenues, in line with the general directives of the government.

Mr. EYAD ABDULLATIF ABDULLA

Financial Resources Director

17545998

17545998

17155450

17155450

EyadAL@works.gov.bh

EyadAL@works.gov.bh

Financial Resources Directorate

Contributed in the high achievement related to efficient budget utilization and expanding and developing many new revenues, in line with the general directives of the government.

Mr. EYAD ABDULLATIF ABDULLA

Financial Resources Director

17545998

17545998

17155450

17155450

EyadAL@works.gov.bh

EyadAL@works.gov.bh

The Financial Resources Directorate (FRD) is considered as one of the major support directorates at the Works Affairs, as the directorate supervise all monetary activities pertaining to the Work Affairs. It also supervises the cash flow dedicated to projects, whether for Ministry’s Projects or for Projects under supervision of this Ministry, that is related to other Ministries or entities, in order to fulfill the financial obligations on assigned date and time.

The directorate also prepares the recurrent expenses budget that is considered as one of the main challenging tasks in light of the government program aimed at balancing the governmental expenses and revenues under the name of “Fiscal Balance Program”, and the best use of available financial resources. In addition, FRD prepares the financial report at end of every year in accordance with the Standard Financial Manual (SFM) issued by Ministry of Finance & National Economy (MoFNE), in addition to the circulars issued by the higher authorities of the government; and adhering to the observations raised by the National Audit Office (NAO).”

Organizational Structure

Our performance in 2019

  • Prepare financial statements that show the financial position of Works Affairs to help Top Management in taking the required decisions related to Government Projects.

 

  • Contributed in the high achievement relating to controlling the expenditure of the recurrent budget within limits set by The Ministry of Finance and National Economy.

 

  • Implementation of Government Regulations in relation to recording and maintaining Fixed Assets for best use. This includes increasing the fixed assets conceptual awareness by conducting training workshops and publishing awareness advertisements in the main screens at the Ministry’s entrances.

 

  • Initiation of Capital Assets registration and improve the recording approach in the electronic system.

 

  • Prepare Financial Statements & Budget Performance Report in compliance with Government Regulation issued by Ministry of Finance.

 

  • Improve the Financial Resources Directorate page on the intranet with full explanations of the services provided, furthermore, providing a soft copy of all application forms and documents related to the services provided by this directorate.

Fiscal Balance Program

“Fiscal Balance Achievement between Government Expenses and Revenue till 2022”

Over the years 2015 – 2017, the Government of the Kingdom of Bahrain has launched several initiatives and programs that have contributed to ongoing economic development and promoted investment into the Kingdom’s economy. These efforts, underpinned by the principles of sustainability, competitiveness and fairness enshrined within Bahrain’s Economic Vision 2030, have led to the strengthening of the national economy, the maintenance of low unemployment rates, and sectoral diversification, resulting in achieving an annual financial impact contributed to reduction of the general budget deficit by more than BD 850 million.

The Ministerial Committee for Financial Affairs and Rationalizing Expenditure in Bahrain has announced in 2018 about the “Fiscal Balance Program” in compliance with Gulf support. Which has an estimated value of $10 billion to enhance the stability of the financial situation in the Kingdom of Bahrain as a contribution from Saudi Arabia, the United Arab Emirates, & Kuwait, which seeks to achieve savings of up to BD 800 million dinars by 2022. The program includes six initiatives:

  • Reducing government operational expenditure.
  • Introducing a voluntary retirement scheme for government employees.
  • Balancing the Electricity and Water Authority’s expenditures and revenues by 2022.
  • Streamlining the distribution of cash subsidies to citizens in need.
  • Improving the efficiency of government expenditure.
  • Simplifying government processes and increasing non-oil revenues

The Ministry of Works, Municipality Affairs and Urban Planning has been working on plans that are in line with the directives of the Government, the Ministerial Committee for Financial Affairs and Rationalizing Expenditure, the commitment with the circulars issued by the Ministry of Finance and National Economy and the Civil Service Bureau in this regard.