MANAMA: The economic slowdown in Saudi Arabia, with which Bahrain has close economic ties, is weighing on Bahraini businesses, according to a new report by leading credit insurer Coface.
Titled “Tough funding conditions for GCC corporates: the hidden effect of lower oil prices”, the July report by the French firm said lending in Bahrain bottomed out throughout 2016 and the annual pace of growth declined down to as low as one per cent in January this year (compared with its average of 5pc between 2012 and 2016) .