Bahrain’s economy continues to show positive signs of upward growth, in parallel with a fiscal balance programme.
The second quarterly report indicates a rate of growth standing at 3.4 per cent, compared with the first quarter.
The positive indicators were revealed as His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa chaired the weekly Cabinet meeting yesterday.
His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Commander and First Deputy Premier, attended the session.
The report released by the Finance and National Economy Ministry estimated the Real Gross Domestic Product (GDP) at BD3.4 billion.
The non-oil sector grew by 1.2pc at fixed prices during the second quarter, compared with the same period last year, while the oil-based sector dropped by 0.8pc.
Hotels and restaurants topped the fastest growing economic sectors, standing at 8.7pc; followed by construction sector, 4pc; and transportation and telecommunications, 3.4pc.
According to quarterly statistics released by the Central Bank of Bahrain, financial projects grew by 2.6pc, which enabled the vital sector to contribute to the GDP by 16.4pc.
The session hailed the outcome of the 2019 Government Forum, held under the patronage of the Premier, following the Crown Prince’s initiative.
It praised the blueprint outlined during the forum, featuring key projects and intiatives aimed to support government work, enhance performance and build on achievements.
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