2012 has been “a year of steady consolidation for the Bahraini economy with progress across the non-oil sector of the economy,” according to the latest Economic Quarterly Report from the Bahrain Economic Development Board (EDB).
The annual pace of economic growth in the first three quarters of 2012 was 4.4 per cent, led by a strong rebound in the non-oil sector of the economy, with overall growth for the year estimated at 3.9 per cent and all main sectors of the economy recording positive growth.
The rebound in economic activity has been supported by a significant increase in lending by Bahraini retail banks. The country’s retail banks are in generally robust health and have been working to remobilise their liquidity after a period of elevated risk aversion.
The strengthening of the short and long-term picture for the Bahraini economy has been reflected in the fact that Standard & Poor’s has recently revised its outlook on the Kingdom from ‘negative’ to ‘stable’.
Read more: http://www.gulfbase.com/news/bahrain-sees-steady-growth-in-2012/229072
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