Official Data: Bahrain Records GDP Growth
2017-07-24 - 5:48 p
Bahrain Mirror: Bahrain's gross domestic product (GDP) grew by 2.88% at constant prices and 10.39% at current prices in the first quarter of 2017 compared to the same period of 2016, according to official data released recently.
On the other hand, the Central Informatics Organization (CIO) data indicate the decrease in growth of the oil sector GDP by 3.29% at constant prices, and the increase by 54.86% at current prices.
The official figures of the CIO show that the non-oil sector recorded growth by 4.41% and 5.98% at constant and current prices respectively.
The Bahraini Cabinet approved mid-month the fiscal budget for 2017 and 2018, which expects slow progress in reducing the fiscal deficit exacerbated by falling oil prices.
According to data from the Ministry of Finance to approve the budget, government revenues for 2017 are estimated at 2.2 billion dinars (5.8 billion dollars), including 1.7 billion dinars of oil revenues. Public spending is expected to reach 3.5 billion dinars, with a deficit of 1.3 billion dinars.
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