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FINANCIAL NEWS
Bahraini GDP growth decreases to 4 percent in Q4
23 Mar 2015
(MENAFN) Bahrain’s gross domestic product growth decreased to 4 percent in the fourth quarter of 2014, marking the weakest rate since 3.2 percent in the first quarter of the year, Arabian Business reported.
Data showed that GDP growth slacked from 5.1 percent marked in the fourth quarter of 2013 and from 5.7 percent in the second quarter of 2014; a decrease indicative of the country’s weak oil exportation.
The 1.3 million populated Bahrain is among the weakest oil exporter of all Gulf countries, in need for the mammoth hydrocarbon and financial reserves of its neighbors.
Bahrain’s state budget deficit is expected to increase to 9.3 percent of GDP in 2015 from an estimated 5.0 percent in 2014 due to the plunge of oil prices since last June.
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