Bahrain Economy

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Chapter | Economy from The Report: Bahrain 2020

Benefitting from its robust financial services, industrial and manufacturing sectors, Bahrain’s economy is one of the most mature and diverse in the GCC...

Chapter | Country Profile from The Report: Bahrain 2020

In 1932 Bahrain pioneered oil production in the Middle East, and in doing so established the region’s initial framework for the petroleum industry. The new resource enabled Bahrain to modernise its economy by moving beyond traditional industries such as pearl diving and fishing. Today, the country’s national plan, Bahrain Economic Vision 2030, aims to enhance private sector growth as well as...

Despite ongoing fiscal challenges, Bahrain’s economy proved resilient throughout 2019, with the World Bank projecting growth of 1.8%. While expansion of the non-oil economy is expected to slow from 2.5% to 2.2%, the oil sector is due to move back into the black (0.2%), reversing the 1.2% contraction recorded the previous year.

Bahrain is capitalising on the recent visit of Narendra Modi, Prime Minister of India, with the two countries signing a raft of collaboration agreements amid ongoing economic cooperation.

A mixture of spending cuts, revenue-raising measures and financial support from regional neighbours will form the core of Bahrain’s newly unveiled programme designed to reduce its deficit and return to surplus by 2022.

Articles & Analysis | Bahrain in brief: from The Report: Bahrain 2019

 

The kingdom is among the smaller economies in the GCC, but is also one of the most diversified, with particularly well-developed financial services and manufacturing sectors. Despite its diversified economy, Bahrain has nonetheless faced pressures in recent years as a result of the 2014-15 drop in global oil prices. However, a multibillion-...

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