FINANCIAL NEWS

Bahraini economy to grow 4% this year

05 May 2010

(MENAFN) The Governor of the Central Bank of Bahrain (CBB) said that the kingdom?s economy should grow around four percent this year, faster than last year, Gulf Daily News reported.

He pointed out that Bahrain’s economy expanded by 3.2 percent in 2009, adding that Bahrain was unlikely to issue further sovereign bonds this year.

In March, Bahrain launched an oversubscribed $1.25 billion, 10-year bond, which came at a time of huge pent-up demand for Gulf sovereign issues.

Gulf countries considerably boosted public spending after the global downturn cut output and froze credit in the world’s top oil exporting region last year. Bahrain did the same, although it showed more restraint than its neighbors.

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