Bahrain's economy is likely to contract by 3.6 per cent this year, however government stimulus measures should provide support, the Central Bank of Bahrain (CBB) Governor Rasheed Al Maraj has said.
Speaking during a webinar organised by the International Monetary Fund (IMF) and Al Iktissad Wal-Aamal Group today, Mr Al Maraj said he was largely in agreement with the IMF's assessment of -3.6pc GDP growth for the kingdom this year.
The webinar titled, 'Policy Priorities to Promote a Robust Post-Covid19 Recovery in the MENA Countries', also included IMF director of the Middle East and Central Asia Department Dr Jihad Azour, Saudi Arabian Monetary Agency Governor Dr Ahmed AlKholifey and Majid Al Futtaim Holding (MAF) chief executive Alain Bejjani as panelists.
It saw discussion on the impact of the Covid-19 pandemic and of lower oil prices on the Gulf economies and needed policies to accelerate the recovery following the gradual lifting of movement and travel restrictions.
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