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FinancialNews
14-08-18
Bahrain's EDB forecasts 3.4 percent GDP growth in 2018
(MENAFN) Bahrain is expected to see its GDP record a 3.4 percent boost over this year along with a 4.3 percent growth in its non-oil sector, the Economic Development Board (EDB) said.
EDB affirmed in its forecast that Bahrain is to see a rapid increase in its non-oil sector due to fast progressing project implementation during the first quarter of this year.
EDB Chief Economist Dr. Jarmo Kotilaine stated "while growth in Q1 2018 reflected a one-off maintenance-related contraction in the oil sector, the broader economic data underpins our confidence in likely full-year growth."
The chief economist added "the stronger regional growth dynamics, a benign liquidity situation in the banking sector, the renewed expansion in the construction sector and implementation of a large infrastructure project pipeline suggest growth is likely to accelerate over the course of the year as a new phase of construction growth helps to support activity across the economy."
MENAFN1408201800450000ID1097292488
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