Bahrain's Q1 real GDP up 3.3% y/y, government report says
Tweet
Share
E-mail
General view of Bahrain Financial Harbour is seen during early evening hours in Manama, Bahrain, May 2, 2020. Picture taken May 2, 2020. REUTERS/Hamad I Mohammed/ File Photo
DUBAI (Reuters) - Bahrain's economy grew 3.3% year-on-year in the first quarter of 2024, according to a quarterly economic performance report by the Ministry of Finance, citing preliminary data from the Information & eGovernment Authority.
The Gulf state's non-oil gross domestic product (GDP) increased 3.3% in the period, contributing almost 85.9% to overall GDP, while oil GDP grew 3.4%, the report said, with accommodation and food services, and financial services and insurance among the top performing sectors.
The finance ministry projects Bahrain's economy to grow 3% in 2024, driven mainly by non-oil sectors, as the government accelerates efforts to diversify income sources and economic sectors away from hydrocarbons.
Among the region's more indebted economies and smaller oil producers, Bahrain has introduced reforms to make doing business easier, create more jobs, and attract foreign investment to boost economic growth.
(Reporting by Rachna Uppal; Editing by Mark Potter)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Syrian private airport plans spark outcry over mass graves, land rights
- Boeing and engineers' union reach tentative contract agreement
- King Oyo, once world's youngest monarch, to be buried in western Uganda
Create E-mail Alert Related Categories
ReutersSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
