Despite being highly vulnerable to disturbances in Saudi Arabia’s market, Bahrain’s economy is much more diversified than Saudi Arabia’s, and has a relatively solid and resilient financial sector. Bahrain’s economy has continued to demonstrate significant resilience throughout the period of depressed oil prices. Inevitably, the pace of growth was somewhat hampered over the past year amid the collapse of global oil prices and the ongoing political instability along with increased pressure on government spending, driving GDP growth down to 2.9% in 2015 from 4.5% in 2014. Yet, the non-oil growth stood at 3.9% reflecting the strength of structural growth drivers in the economy, particularly with a sustained momentum of diversification and a large infrastructure pipeline.
Publisher: Whispering Bell
Pages: 10
Despite being highly vulnerable to disturbances in Saudi Arabia’s market, Bahrain’s economy is much more diversified than Saudi Arabia’s, and has a relatively solid and resilient financial sector. Bahrain’s economy has continued to demonstrate significant resilience throughout the period of depressed oil prices. Inevitably, the pace of growth was somewhat hampered over the past year amid the collapse of global oil prices and the ongoing political instability along with increased pressure on government spending, driving GDP growth down to 2.9% in 2015 from 4.5% in 2014. Yet, the non-oil growth stood at 3.9% reflecting the strength of structural growth drivers in the economy, particularly with a sustained momentum of diversification and a large infrastructure pipeline.
