Bahrain’s economy has grown more than fivefold over the past two decades, reaching $47 billion in 2024, Finance and National Economy Minister Shaikh Salman bin Khalifa Al Khalifa revealed yesterday.
He was speaking during a Press conference at Gudaibiya Palace alongside other ministers following a Cabinet meeting in which a wide-ranging package of initiatives aimed at diversifying income sources and strengthening public finances were announced.
He said the kingdom’s economic growth reflects the stability and confidence achieved under the leadership of His Majesty King Hamad and the strategic vision and directives of His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister.
“Security and stability are the foundation of development and prosperity,” said Shaikh Salman. “The growth we see today across all sectors is the result of wise leadership, long-term planning and a firm commitment to the principles enshrined in the National Action Charter and the Constitution.”
Shaikh Salman noted that Bahrain’s gross domestic product has grown from $9bn in 2000 to $47bn in 2024, underscoring Bahrain’s steady economic transformation and diversification.
He also revealed that the average gross wage of Bahraini workers in the public and private sectors rose by around 103 per cent, increasing from BD439 in 2005 to BD893 monthly in 2024.
Despite recent global inflationary pressures, Shaikh Salman said Bahrain has succeeded in maintaining price stability.
“According to official data, the kingdom’s average annual inflation rate between 2019 and 2025 remained at around one per cent,” he said.
“This is notably low compared to inflation levels exceeding 20pc in the United States, the United Kingdom and several European Union countries over the same period.”
He stressed that the new Cabinet-approved initiatives are not driven solely by fiscal considerations, but by a broader objective of enhancing citizens’ wellbeing.
“The Bahraini citizen is the nation’s true wealth and the core of all development programmes,” Shaikh Salman said.
“These decisions are not about strengthening public finances for their own sake, but about reinforcing stability and ensuring that economic growth translates into higher wages, wider opportunities and shared prosperity for all.”
&uuid=(email))