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FINANCIAL NEWS
Bahrain’s GDP expanded by 3.9% in 2012: EDB
13 Feb 2013
(MENAFN) Bahrain’s gross domestic product (GDP) has expanded by 3.9 percent in 2012, as bigger contribution from non-oil sectors helped offset lower oil output, Arabian Business reported.
The Economic Development Board (EDB) said the economy grew at an annual pace of 4.4 percent during the first three quarters of the year before decelerating.
This shows a strong forward momentum beyond the rebound effect seen in the first half of 2012, said the EDB. Bahrain’s economy expanded by only 1.9 percent in 2011.
The EDB also expected the Gulf state’s economy to grow by 6 percent in 2013, driven by oil production rebounding to normal levels.
Bahrain’s onshore field, Tatweer Petroleum, is expected to gradually increase capacity to about 47,500 barrels per day in 2013.
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