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

How Bahrain's politics is standing in the way of its economy
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Published September 29th, 2013 - 05:30 GMT via SyndiGate.info

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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).
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Bahrain’s government
,
International Monetary Fund
,
Parliament in Bahrain
,
Gulf Monetary Union
,
Gulf Cooperation Council

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.

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