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FINANCIAL NEWS
Bahrain’s 2012 economy expected to grow 5%
24 Oct 2011
(MENAFN) Bahrain’s Economic Development Board’s CEO, Shaikh Mohammad Bin Eisa Al Khalifa, said that next year, the country’s economy would be forecasted to grow 5 percent, reported Gulf News.
Sheikh Mohammad added that the growth would result from the government’s plans to increase expenditure, in addition to the financial aid the country would receive from other Gulf countries, estimated at USD10 billion over ten years.
He also said that over the coming two years, the Bahraini government would construct 50,000 houses, adding that the fund that would be received from the GCC countries would be used to compensate for the costs of the protests and the unrest that hit the country early this year and to finance infrastructure and housing.
It is worth noting that the protests cost Bahrain around USD2 billion of output, including USD200 million of damage to small-size and medium-size industries.
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