Bahrain Mirror: The International Monetary Fund (IMF) expected that Bahrain's GDP will not increase more than 2.3% in 2019.

The average growth of GDP in Bahrain between 2000 and 2009 (after reforms period) reached 5.6%, according to the IMF, while 2010 witnessed 4.3% growth. Growth sharply decreased in 2011 to 2%, i.e. in the year the uprising calling for an end of tyranny was launched.

After a period of calm, growth returned in 2012 to 3.7% then 5.4% in 2013, and 4.4% in 2014. However, it started to decline in 2015 due to low oil prices, and debt crisis, and scored 2.9% then 3.2% in 2016 and 2017. It is expected to fall to 3% in 2018, and to decrease more in 2019 until it reaches 2.3%, the IMF stated in its forecast.

The oil price hike is likely to improve the current accounts at the GCC States in 2018 and 2019, according to the report. The IMF added that each GCC State will likely use different financial tools to enhance its financial resources.

The overall 2018 GDP of the MENA region is expected to drop by 20 points to 3.2 per cent due to the continuous financial acclimatization and geopolitical risks that affect oil exporters, the report said, adding that the GDP for the region in 2019 is expected to increase by 30 base points to 3.6 per cent which is attributed to the oil production increase after the expiry of OPEC Oil Production Cut Agreement.

Arabic Version