Bahrain's economy set to grow 6 per cent

Bahrain's economy set to grow 6 per cent
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Published February 13th, 2013 - 12:47 GMT via SyndiGate.info

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Bahrain's economy is forecast to grow by more than six per cent this year, according to experts.
Bahrain's economy is forecast to grow by more than six per cent this year, according to experts.
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Kamal Ahmed
,
Bahrain Economic Development Board

Bahrain's economy is forecast to grow by more than six per cent this year, say experts.

Despite continuing global economic uncertainty, last year was a year of steady consolidation for Bahrain.

Economic growth in the first three quarters of 2012 was 4.4pc led by a strong rebound in the non-oil sector of the economy.

Overall growth for last year is estimated at 3.9pc with all main sectors of the economy recording positive growth, according to the latest Economic Quarterly Report from the Bahrain Economic Development Board (EDB).

The strengthening of the picture for the Bahraini economy has been reflected in the fact that rating agency Standard & Poor's has revised its outlook on the kingdom from negative to stable.

"The latest economic report demonstrates that Bahrain's economy continues to strengthen and after achieving solid growth in 2012, the economy is well-positioned to continue to achieve steady and sustainable expansion in 2013 and beyond," said EDB acting chief executive Kamal Ahmed.

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