Humaidan: The International Monetary Fund expects a decrease in unemployment in Bahrain and this reflects sustainable growth in the Kingdom

20-04-2023

In light of the indicators revealed by the International Monetary Fund data recently, in which it expected the unemployment rate in the Kingdom of Bahrain to decrease to 4. 4% during the current year 2023. Accordingly, HE Minister of Labour Jameel bin Mohammed Ali Humaidan stressed that these expectations reflect the confidence of the international community in the general policies implemented by the Kingdom to sustain growth in the labour market and attract more job-generating investments in various economic, commercial and industrial sectors. He also indicated that this report that is issued by this independent and prestigious international body relies on a scientific approach in analysing global economic data and indicators, which enhances the Kingdom's position as an investment destination and a distinguished incubator for business environments thanks to its advanced legislation and laws, emerging economic sectors and promising opportunities within an economic climate that is growing at an escalating pace. Humaidan pointed to the positive cooperation between the International Fund and the Kingdom of Bahrain and the periodic meetings held by the Fund with the relevant authorities in the economic and labour fields. In this context, the minister stated that the indicators launched by major international institutions specialised in the field of the labour market are based on the success of government programs in implementing plans to control unemployment rates within their safe limits, while relying on international standards in calculating unemployment rates in all transparency. He also stressed the continuation of all efforts in enhancing the business environment and implementing many initiatives and programs that would support preference and make citizens the first choice in the labour market. At the forefront of these efforts is the cost of employing national cadres by providing wage support programs and bridging the skill gap by providing professional and specialised training and acquiring the necessary professional skills needed by the labour market for citizens looking for work. The Minister of Labour, stressed that all relevant authorities are harnessing all their capabilities to continue building on the achievements made in this regard in order to sustain the growth of employment rates in the Kingdom of Bahrain, considering that maintaining the stability of unemployment indicators is a common national responsibility. In this context, he praised the cooperation of employers as well as civil bodies with the employment initiatives and projects launched by the government and their contribution to attracting citizens looking for work and integrating them into all job specialties in the productive sectors.