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-dollar aid package from other Gulf states announced in late 2018 and an accompanying fiscal-adjustment plan, as well as growth on the back of a partial oil price recovery and a recent major oil and gas discovery, offer hope for an economic turnaround in 2019.
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