Arab Today, arab today bahrain economy seen shrinking 16 in 2011
Last Updated : GMT 19:54:52
Arab Today, arab today
Arab Today, arab today

Bahrain economy seen shrinking 1.6% in 2011

Arab Today, arab today

Arab Today, arab today Bahrain economy seen shrinking 1.6% in 2011

Manama - Arabstoday

Bahrain is set to see its economy contract by 1.6 percent this year on the back of the social unrest that hit the country earlier this year, Business Monitor International has said in a new report.Analysts said growth in the Gulf kingdom would \"slow markedly\" with investment, consumption and trade all expected to trend lower. \"Although the Bahraini government will likely aggressively ramp up spending in a bid to shore up domestic political support, we continue to project the country posting a budget surplus in 2011 and 2012 to the tune of 2 percent and 0.4 percent respectively,\" BMI said.\"This will be due primarily to the impact of higher oil prices and external aid from other Gulf Cooperation Council states,\" it added.Earlier this month, the head of the country\'s chamber of commerce said Bahrain\'s economy had lost up to $2bn due to the policie unrest.BMI said it had revised down its average 2011 consumer price inflation forecast for Bahrain to -0.1 percent year-on-year from 1.8 percent previously. \"This comes on the heels of a massive drop lower in housing prices, which contracted over 14 percent in March and April as a result of the government deciding to reduce housing instalments by 25 percent,\" the BMI report said.\"It remains unclear what impact 2011’s political crisis will have on Bahrain’s long-term economic outlook. Should investors begin to reassess the costs of doing business in the country and begin relocating to Dubai or Doha, Bahrain’s growth outlook would suffer accordingly,\" BMI added. Last week it was reported that Bahrain\'s economy shrank by 1.4 percent quarter-on-quarter in the first three months of 2011 as unrest hit businesses in the tourism sector. On an annual basis, GDP growth of the Arab island kingdom, at some $14 billion the smallest economy in the Gulf, slowed to 1.8 percent in the first quarter from a revised 3.7 percent in October-December 2010, the data  from the Central Informatics Organisation showed. The island kingdom, a financial hub where nearly $9 billion in mutual funds is parked, had been rocked in February and March by its worst public unrest since the 1990s. Around 30 people died in a month of unrest which brought in Saudi troops, closed banks and shops and triggered capital flight. From / Arabian Business News

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bahrain economy seen shrinking 16 in 2011 Arab Today, arab today bahrain economy seen shrinking 16 in 2011

 



Arab Today, arab today
Arab Today, arab today Heart of Turkish Riviera is Alluring Seaside Escape

GMT 11:11 2017 Tuesday ,28 March

Heart of Turkish Riviera is Alluring Seaside Escape
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Hamas leader accuses Israel

GMT 11:43 2017 Tuesday ,28 March

Hamas leader accuses Israel
Arab Today, arab today Media host gives priority to problems of people

GMT 07:00 2017 Tuesday ,28 March

Media host gives priority to problems of people
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Disaster costs nearly double to $175bn

GMT 10:42 2017 Tuesday ,28 March

Disaster costs nearly double to $175bn
Arab Today, arab today Campaign fights sexual harassment in Egypt

GMT 11:14 2017 Tuesday ,28 March

Campaign fights sexual harassment in Egypt
Arab Today, arab today Trump poised to roll back climate protections

GMT 09:28 2017 Tuesday ,28 March

Trump poised to roll back climate protections
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Uber grounds self-driving cars

GMT 09:11 2017 Monday ,27 March

Uber grounds self-driving cars
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Trump to roll back Obama clean power plan

GMT 11:10 2017 Monday ,27 March

Trump to roll back Obama clean power plan

GMT 09:58 2017 Saturday ,25 March

Nermein Al Fekki films “Foxes in the Valley”

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 09:02 2017 Thursday ,23 March

Laptop ban sparks ire

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 13:21 2017 Tuesday ,28 March

Samsung plans to sell refurbished Galaxy Note 7s

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday