Despite its diversified economy, Bahrain has nonetheless faced pressures in recent years as a result of the 2014-15 drop in global oil prices. However, a multibillion-dollar aid package from other Gulf states and an accompanying fiscal adjustment plan, as well as growth following a partial oil price recovery and a major oil and gas discovery, offer hope for an economic turnaround in 2019.
A mixture of spending cuts, revenue-raising measures and financial support from regional neighbours will form the core of Bahrain’s newly unveiled programme designed to reduce its deficit and return to surplus by 2022.
Enhanced capacity at Bahrain’s largest industrial facility is set to boost downstream manufacturing opportunities and increase industry’s share of GDP.
The kingdom is among the smaller economies in the GCC, but is also one of the most diversified, with particularly well-developed financial services and manufacturing sectors. Despite its diversified economy, Bahrain has nonetheless faced pressures in recent years as a result of the 2014-15 drop in global oil prices. However, a multibillion-...
Bahrain in brief Strength to strength: Diversification and privatisation initiatives fuel growth Viewpoint: King Hamad bin Isa Al Khalifa Higher focus: Financial incentives for students and collaboration with international universities help to boost regional innovation A helping hand: Five-year support package and fiscal balance strategy...
With 36 insurance and reinsurance companies in operation as of December 2017, Bahrain’s insurance sector is well developed, particularly when taking into account the size of the economy by both GCC and emerging market standards. According to the Central Bank of Bahrain (CBB), the market comprised 14 conventional locally incorporated firms (...
While advanced economies generate the vast majority of insurance and reinsurance business, emerging markets are posting higher rates of growth. Complementing this underlying trend is a strong and expanding interest in catastrophic risk, which by nature tends to pertain to emerging markets. This is coming alongside fast-paced, sector-...