IMF report affirms Bahrain’s sustainable economic growth

TDT | Manama                                                        

The Daily Tribune – www.newsofbahrain.com

MP Dr. Maryam Al-Dhaen underscored the significance of the Kingdom of Bahrain’s position at the forefront of the International Monetary Fund’s growth forecasts for 2024 among Gulf Cooperation Council countries. Dr. Al-Dhaen emphasised that this achievement serves as a crucial indicator of Bahrain’s commitment to bolstering sustainable growth and economic diversification.

She highlighted the Kingdom’s dedication to implementing robust policies and initiatives aimed at fostering long-term economic stability and development.

Al-Dhaen said that the Kingdom succeeded in supporting and stimulating the financial sector, which is one of the sectors that contribute most to the gross domestic product, which contributed to achieving further development and growth. She highlighted the goals of the comprehensive development process led by His Majesty King Hamad bin Isa Al Khalifa and the continuous follow-up of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister.

According to the report issued by the IMF in April 2024, which came under the title “Global Economic Prospects,” the Kingdom of Bahrain was alone in recording an expected increase in the growth rate during the year 2024. She pointed out that the report expected the growth rate in the gross domestic product to reach 3.6%, and that growth has not declined or decreased, compared to previous years.

Al-Dhaen expressed her satisfaction with what was stated in the report regarding the performance of the global economy and overcoming economic recessions, which paves the way for a more stable economic situation.

She noted that at the level of the rest of the countries, the report expected the global gross domestic product to grow by 3.2% for the years 2024 and 2025, in addition to expecting a decrease in the level of Global underlying inflation will rise to 2.8% by the end of 2024, from 4% last year to 2.4% in 2025.