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FINANCIAL NEWS
Bahrain’s real GDP records 4.5 percent growth in 2014
03 May 2015
(MENAFN) Bahrain’s real GDP registered a growth by 4.5 percent in 2014, according to the Bahrain Economic Quarterly (BEQ) report made by Bahrain Economic Development Board (EDB), Arab News reported.
The Bahraini non-oil sectors grew to 4.9 percent in 2014, marking an increase from 3 percent rate logged back in 2013, the report said. Additionally, the construction sector showed a sturdy growth of 12.5 percent.
The success of the construction sector is attributable to the inauguration of several major infrastructure projects in distinct areas such as road transportation, the report added.
“The report highlights the steadily growing contribution of the nonoil sector to the Kingdom’s economy. We expect project spending on infrastructure, tourism, and increased private sector activity to drive non-hydrocarbon growth,” the chief economist at the EDB said.
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