Bahrain’s efforts to narrow its fiscal deficit is taking place across a number of fronts. On the revenue side of the equation the awaited introduction of value-added tax is expected to have the single-biggest impact over the next two years. In terms of cutting costs, the ongoing reduction of energy subsidies is garnering considerable attention...
The kingdom of Bahrain, renowned for its open markets and one of the most vibrant financial industries in the region, has faced economic headwinds in recent years. Lower oil prices have affected the many corporates that have chosen Manama as a base for their regional operations, and a stubborn fiscal deficit has resulted in a record-high level...
For the nations of the GCC, the drop in oil prices highlighted something many already knew: there is a pressing need for economic diversification and to further engage with global partners across different markets. To this end, countries in the region have made efforts to expand their international role and reach in recent years, with trade...
The number of sovereign wealth funds (SWFs) operating in the GCC has grown in the decade to 2017. The value of these SWFs – created to invest and manage the huge sums of money flowing into the region from hydrocarbons sales – stood at $2.9trn in March 2017, according to the SWF Institute (SWFI), representing 38.5% of the global total.
Bahrain has moved forward with plans to improve national infrastructure as part of its economic development strategy, announcing a series of tenders relating to the upgrade and expansion of the country’s airport.
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