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FINANCIAL NEWS
Bahrain’s GDP to grow 3.3 percent in FY 2014-15
09 Oct 2014
(MENAFN) According to the latest assessment by the International Monetary Fund (IMF), Bahrain’s gross domestic product (GDP) expected to grow by 3.3 per cent during the fiscal year of 2014-2015, Gulf Daily News reported.
Driven by higher oil production and government spending, activity in the GCC economies have accelerated slightly in the second half of last year and into this year despite the drop in oil prices, which is why the average growth for oil exporters is expected to rise from 2.2 percent last year to 2.5 percent this year and to 3.9 percent next year.
However, this latest assessment by the IMF is 0.9 percent lower for this year, compared with the earlier one made previously this year.
Meanwhile, inflation is expected to remain contained in most countries, particularly in the GCC, due mostly to the decline in global food prices.
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