The World Bank has forecast Bahrain’s economy to grow by 2.6 percent in 2019, driven by higher oil production, a raft of mega projects (e.g., a scheduled capacity enlargement at Aluminum Bahrain, Alba), may raise aluminum production capacity by over 50 percent), and continued regional support. Overall growth is projected to remain at an average of 2.1% over 2019-2020, and non-oil growth to slow to 2.4%, due to front-loaded FBP fiscal measures and tapering megaproject investments. According to Unctad, FDI inflows to Bahrain were $1.515bn in 2018, 6.7pc higher than $1.42bn in 2017. However, an aid package from other Gulf states, announced in late 2018, and an accompanying fiscal-adjustment plan, as well as growth on the back of a partial oil price recovery and a recent major oil and gas discovery, offer hope for a turnaround in 2019. No claims are made regarding the accuracy of Bahrain Economy 2020 information contained here. The Saudi economy is the largest in the Middle East, and more than 20 times the size of Bahrain’s (Saudi GDP was $745bn in 2013, when Bahrain’s was $32.8bn). Inflation is estimated to pick up in 2019 to 3.3% given the introduction of VAT in January 2019. Bahrain is a crucial ally and client state of Saudi Arabia, which fears growing influence of Iran among the Shiite majority population of the country. Government Debt in Bahrain averaged 4112.14 BHD Million from 2003 until 2019, reaching an all time high of 12045.40 BHD Million in the third quarter of 2019 and a record low of 520 BHD Million in the third quarter of 2007. Oil and natural gas play a dominant role in Bahrain’s economy. In brief. It is closely connected to oil prices, Saudi transfers, diversification efforts and economic reform. Government Debt in Bahrain remained unchanged at 12045.40 BHD Million in the fourth quarter of 2019 from 12045.40 BHD Million in the third quarter of 2019. Bahrain’s economy is projected to post a moderate level of growth at an average of 2.2% over 2020-2021 as the economy continues to rely on its limited oil revenues to underpin the safety net for citizens while furthering diversification. Despite its diversified economy, Bahrain nonetheless faced pressures in recent years as a result of the 2014-15 drop in oil prices. Published August 20th, 2018 - 09:48 GMT There are problems and challenges facing Bahrain in economic affairs. The GCC is set to experience a surge in the use of FinTech platforms as consumers turn away from physical offerings during the ongoing global COVID-19 outbreak.
The economy will contract sharply in 2020 and Bahrain will struggle financially owing to the impact of Covid-19 on global demand and … Although economic activity has recently started to show some stability, it is not expected to record high growth rates as previously. By Yumna Patel June 28, 2019. According to ICAEW’s latest Economic Insight report, economic growth in Bahrain more than halved last year, from 3.7% in 2017 to 1.8% in 2018, with further deceleration seen in 2019 to 1.6% amid a major drive to overhaul government finances, which include spending cuts, new taxes and other fiscal consolidation measures. This page has economic forecasts for Bahrain including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Bahrain economy. Bahrain will need to pursue energy subsidy reform and control large off-budget expenditures, while pursuing its diversification strategy. Key Policy Responses as of June 17, 2020 The 2030 Economic Vision, launched by His Majesty King Hamad Bin Isa Al Khalifa in October 2008 embodies a comprehensive vision for the Kingdom of Bahrain that aims at creating a clear approach to develop the kingdom’s economy while focusing on the main objective, which aspires to improve the living standards of all Bahraini Citizens.. Bahrain attracted $942 million of Foreign Direct Investment (FDI) in 2019, according to the latest World Investment Report (WIR 2020) from the UN Conference of Trade and Development (UNCTAD). Bahrain’s economic stability is important for its political stability. For the health sector, this includes 3.7bn for medical supplies, 16.5bn for bonus payments to health workers, and 8.9bn for the health sector’s development. Despite the Government’s past efforts to diversify the economy, oil still comprises 85% of Bahraini budget revenues. Background.
Franklin Templeton Investments cuts its debt holdings in Bahrain, citing the 'very serious' threat of a crisis in the next 12 months Franklin Templeton Investments has cut back its debt holdings in Bahrain, citing the “very serious” threat that the cash-strapped nation will experience an economic crisis in the next 12 months if financial aid from neighbours doesn’t come through.
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