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.
Bahrain is capitalising on the recent visit of Narendra Modi, Prime Minister of India, with the two countries signing a raft of collaboration agreements amid ongoing economic cooperation.
Bahrain has unveiled a series of new infrastructure initiatives in a bid to bolster current transport capacity and fuel the country’s wider economic growth.
Significant progress has been made on two mixed-use real estate projects being built in Bahrain’s north-east, as the kingdom looks to major developments to help unlock its economic potential.
Bahrain has continued to incentivise growth in financial technology (fintech) following the introduction of new regulations that will allow lenders to expand and upgrade their digital offerings.
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.