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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."

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