The Crown Prince of Bahrain, Prince Salman bin Hamad Al Khalifa, revealed that Bahrain's gross domestic product grew by 6.9 percent on an annual basis in the second quarter of 2022. Thus, Bahrain's GDP recorded the largest annual increase since 2011.
Bahrain's economy grew by 5.5 percent on an annual basis during the first quarter of this year, while the non-oil sector recorded a growth of 7.8 percent.
The Bahraini Ministry of Finance revealed that Bahrain recorded a budget surplus of 33 million dinars ($88 million) in the first half of 2022, compared to a deficit of 520 million dinars ($1.39 billion) during the same period last year.
Total public revenues amounted to 1.698 billion dinars ($4.53 billion), an increase of 52 percent, compared to the first half of 2021, while total expenditures rose 2 percent to 1.665 billion dinars. Bahrain had expected a significant decrease in the budget deficit for the first half of 2022 thanks to the rise in oil prices.
Source (Al-Arabiya.net Website, Edited)
