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FINANCIAL NEWS
Bahrain’s 2013 GDP to expand 5%
28 May 2013
(MENAFN) The Bahrain Economic Development Board stated that in 2013, the country’s gross domestic product (GDP) is projected to expand at least 5 percent, reported Gulf Daily News.
The strong non-oil sector drove the Kingdom’s recovery in 2012, whereas the oil sector’s technical problems restrained a higher growth, as technical issues at Abu Safa oilfield lowered production for most of the year.
However, as these problems were repaired in November, and as higher output is expected from an onshore oilfield, the country’s 2013’s economy will rebound strongly.
It is worth noting that bank lending in Bahrain has been growing at a comfortable pace and banks have high liquidity.
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