IMF predicts rise in Bahrain non-oil GDP
The International Monetary Fund (IMF) has said Bahrain’s non-oil GDP growth is projected to increase to around 5% this year, driven by capital spending, with oil GDP expected to be flat, Reuters has reported. Overall growth is seen to revert to moderate levels in the medium term of around 3%, reflecting continued weak investment sentiment in the non-oil sector and limited growth in the oil sector, said the IMF. “Economic performance remained moderate in 2013. GDP is estimated to have grown by 4.9%, supported by a rebound in the hydrocarbons sector, but non-oil activity is estimated to have slowed to 2.8%, largely reflecting weak investment sentiment and the delay in the 2013–14 budget approval,” it said.