A report issued by the International Monetary Fund showed that Bahrain achieved strong growth in 2022, similar to the situation in other Gulf Cooperation Council countries, where the continued momentum of public financial reforms and the rise in oil prices contributed to improving the balance of public finances and the external balance.
According to the Fund, the Bahraini economy grew by 4.9 percent in 2022, driven by a growth of 6.2 percent in the non-hydrocarbon GDP, while the hydrocarbon GDP declined by 1.4 percent.
In addition, the Fund indicated that in light of the ongoing economic recovery, ongoing public financial reforms, and high oil prices, the public budget deficit recorded a remarkable decline from 6.4 percent in 2021 to 1.2 percent of GDP in 2022, while the overall public finance deficit shrank. From 11 percent to 6.1 percent of the GDP.
Source (Al-Arabiya.net Website, Edited)
