Private sector's contribution hailed after Bahrain posts 10-year-high GDP growth-Xinhua
Private sector's contribution hailed after Bahrain posts 10-year-high GDP growth-
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Private sector's contribution hailed after Bahrain posts 10-year-high GDP growth-
Bahrain's real gross domestic product (GDP) grew 4.9% in 2022, hitting a 10-year high, driven by non-oil GDP growth and greater private sector contribution towards economic activities. It had witnessed a 6.2% non-oil GDP growth, said a senior minister.
Despite the global challenges presented over the past few years, Team Bahrain was able to ensure the kingdom’s prosperity and ongoing development, with a wide-range of achievements, said the Deputy King, HRH Prince Salman bin Hamad Al Khalifa.
Boosted by rising oil prices and increasing oil production, Bahrain’s short-term economic outlook remains positive, leading to a much higher GDP growth forecast of 4.4% for 2022, double the pace in 2021, a report said.