SICO shares insights into Bahrain’s economic recovery and fiscal balance

SICO shares insights into Bahrain’s economic recovery and fiscal balance

SICO BSC (c), a leading regional asset manager, broker, and investment bank (licensed as a wholesale bank by the CBB), shared insights into Bahrain’s economic and fiscal recovery in a comprehensive report titled Bahrain Special – Between achievements and acceleration towards targets – Feb 2023.The report indicates the tangible progress in Bahrain’s economic recovery plan and fiscal balance.

This in-depth report objectively discusses Bahrain’s economic growth, fiscal position, debt trajectory, strategic investments, and projects aligned. It sheds light on the progress of the fiscal balance program against the targets set, as well as the risks and challenges that Bahrain might face.

2022 can be best characterized as a year of acceleration and diligent movement towards crucial targets set for achieving fiscal balance by 2024. Coming out of a pandemic that had its adverse impacts on the economy for the past two years, Bahrain has shown recovery in 2022, and more disciplined spending over the last five years.

Since publishing our report, Bahrain has released its preliminary fiscal numbers for the year 2022 reflecting a deficit of BHD 178mn compared to a deficit of BHD 952mn in 2022. Non-oil revenues were 28% higher YoY crossing BHD 1bn to reach BHD 1.065bn in 2022. This