S&P Sees Abu Dhabi, Bahrain Economies Contracting on Oil, Virus

  • Date: 31-May-2020
  • Source: Bloomberg
  • Sector:Economy
  • Country:UAE
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S&P Sees Abu Dhabi, Bahrain Economies Contracting on Oil, Virus

The ratings company said Abu Dhabi's economy may recover gradually from 2021, on the back of higher oil prices and improved domestic demand.. Bahrain's economy will shrink 5% this year because of low oil prices, although government stimulus measures should provide some support, S&P said.. The ratings company expects Bahrain's economy to rebound in 2021 as oil prices recover and regional activity increases..