How Bahrain's politics is standing in the way of its economy

How Bahrain's politics is standing in the way of its economy
2.5 5

Published September 29th, 2013 - 05:30 GMT via SyndiGate.info

Rate Article:

2.5
 
PRINT Send Mail
comment (0)
A key economic report has rated Bahrain’s economy as the least competitive within the Gulf Cooperation Council (GCC).
A key economic report has rated Bahrain’s economy as the least competitive within the Gulf Cooperation Council (GCC).
Follow >
Click here to add Bahrain’s government as an alert
Bahrain’s government
,
Click here to add Gulf Cooperation Council as an alert
Gulf Cooperation Council
,
Click here to add Gulf Monetary Union as an alert
Gulf Monetary Union
,
Click here to add International Monetary Fund as an alert
International Monetary Fund
,
Click here to add Parliament in Bahrain as an alert
Parliament in Bahrain

Recent reports on the state of Bahrain’s economy confirm the urgent need to overcome socio-economic and socio-political debacles. Over a span of weeks, Bahrain’s sovereign rating has experienced a downgrade by a major rating agency.

Also, fresh warnings have been sounded over the scale of the public debt amid an alarming budget deficit. A key economic report has rated Bahrain’s economy as the least competitive within the Gulf Cooperation Council (GCC).

To begin with, Moody’s downgraded Bahrain’s government issuer rating by one notch from Baa1 to Baa2. The agency has not ruled out further downgrades. Worse, Moody’s continues to maintain a negative outlook towards Bahrain’s economy.

The agency put forward notable arguments for the move, including susceptibility of Bahrain to domestic and regional political instability in addition to a possible oil price shock.

Advertisement

© Al Nisr Publishing LLC 2013. All rights reserved.

Add a new comment

 avatar