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FINANCIAL NEWS
Bahrain GDP hits 4.5 percent growth in 2014
26 Apr 2015
(MENAFN) The Gross Domestic Product of Bahrain recorded 4.5 percent growth in 2014, driven by the non-oil sectors success, reaching 4.9 percent, according to a report from the Bahrain Economic Development Board (EDB), Zawya reported.
The success of the non-oil sectors was as a result of sturdy economic fundamentals, which immensely supported the country’s economy, in addition to long-term spending plans in Bahrain and across the GCC.
The construction sector marked a significant hit by showing solid growth of 12.5 percent when compared to the previous year; the growth was enticed by the several major infrastructure projects in areas such as road transportation.
“The fact that 80 percent of Bahrain’s GDP, now comes from areas other than hydrocarbons highlights the transformative impact of the reform efforts to diversify the economy in past years.” A Chief Economist at the EDB said.
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