IMF raises Bahrain’s economic growth forecast

SourceThe Daily Tribune - News of Bahrain

The International Monetary Fund yesterday raised its growth forecast for Bahrain’s economy, as it said it also expects most other economies in the Gulf to do the same. The fund said that it now expects most Gulf economies to recover this year at a ‘faster pace’ than previously estimated, as it raised its 2021 global growth forecast to 6% from 5.5% less than three months ago.
IMF forecasts the economy of Bahrain to grow 3.3% this year versus a forecast of 2.3% in October, the IMF said in its latest World Economic Outlook, released this week. Saudi Arabia’s economy, the largest in the region, is expected to grow 2.9% this year, up from the 2.6% forecast in January. Saudi Arabian economy contracted 4.1% last year due to the twin shock of the COVID-19 pandemic and lower more...