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FinancialNews


  • 30-05-21

    Bahrain’s economy to return to growth this year

    (MENAFN)Rating agency S&P amended its outlook for the Gulf country to “negative,” mainly as a result of its pace of fiscal reform, regardless of its estimations that Bahrain’s economy will increase in 2021.

    The International Monetary Fund stated that Bahrain’s economy dropped by 5.4 percent in 2020, as the pandemic hit some sectors such as energy and tourism.

    With the oil-producing country’s real gross domestic product increasing by 2.7 percent attributable to boosting oil prices and the recovery of economic activity, this is going to be changed in this year, stated, S&P.

    S&P further declared that Bahrain’s COVID-19 vaccination program supports its recovery, as more than 60 percent of the qualified population was inoculated.

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