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FINANCIAL NEWS
Bahrain’s 2011 economy to avoid recession
14 Sep 2011
(MENAFN) Business Monitor International (BMI) said that this year, Bahrain’s economy wouldn’t fall into recession due to the government’s growing spending along with external financial aid, reported Arabian Business.
The agency added that in the second quarter, the country’s economy rose 1 percent from the first quarter when it shrank one percent as a result of the political upheaval that hit the country in the period.
It also said that in 2011, real gross domestic product (GDP) would be forecasted to grow by 0.5 percent, while it was expected to expand by 1.2 percent in 2012.
It is worth noting that in the first quarter, the tourism sector shrank 19.6 percent and in the second quarter it contracted 17.2 percent, according to Bahrain’s statistical agency.
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