Bahrain’s economy achieves 2.73% Growth in Q1 2019
Saturday, 06 15 2019, Category: Economy, Country: Bahrain
Bahrain's economy grew by 2.73% in the first quarter of this year, while the World Investment Report pointed to a rise in foreign direct investment in Bahrain to reach $1.5 billion in 2018. The report revealed that Saudi Arabia was at the forefront of countries that pumped investments within the Kingdom, which amounted to more than $745 million.
The government of Bahrain announced on Thursday that the economy grew 2.73 percent in the first quarter of 2019, boosted by expansion in the non-oil sector.
The country had secured pledges of $10 billion in financial aid last year from its Gulf allies (Saudi Arabia, Kuwait and the United Arab Emirates) to avert a possible debt crisis.
The annual GDP growth in the first quarter came amid an increase in spending on infrastructure projects thanks to the Gulf financial support package, the government said.
Source: Asharq Al-Awsat