2023-05-27 10:18:45
Sky News Arabia – Abu Dhabi
10:21 – May 27, 2023
Manama
Standard & Poor’s credit rating agency affirmed Bahrain’s rating at “B+/B”, while maintaining a “positive” outlook.
The Bahraini economy recorded a remarkable growth in 2022 of 4.9 percent, achieving the highest growth rate since 2013, supported by the remarkable growth in the non-oil sector.
The International Monetary Fund recently stated that the momentum of financial reforms and the rise in oil prices last year contributed to supporting Bahrain’s public finances.
The Fund expected the unemployment rate in Bahrain to decrease to 4.4 percent during the current year 2023, following it fell to regarding 5.4 percent last January, compared to 7.7 percent in 2021.
According to the forecasts of the International Monetary Fund, the growth rate in Bahrain is expected to decline this year to 2.7 percent in light of fluctuations in oil prices and global economic turmoil.
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