Lower oil prices are likely to moderate Bahrain’s economic growth this year, though a strong non-oil sector, along with a sustained programme of state investment, should underpin GDP expansion into 2016 as oil markets await renewed demand.
Bahrain
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On June 10, Aluminium Bahrain (Alba) announced it had been granted approval to begin work on a new production line, with the project set to make the plant the world’s largest single-site smelter when completed in 2019.
A push to bring new products and services to the stock market is being steered by the Central Bank of Bahrain (CBB), which regulates the country’s financial services industry.
With the aim of creating a niche for itself as a top student destination in the Gulf, Bahrain hopes international students will fill up to 35% of all university places over the next decade, according to projections from the national education plan.
With gains in the Bahraini real estate market demonstrating a gradual return of investor and developer confidence, a drive to restart work on long-delayed residential developments is likely to give further impetus to the recovery.
A new regulatory framework governing Bahrain’s sharia-compliant insurance, or takaful, sector is expected to play a key role in generating new growth across the segment by attracting more players to the market as well as boosting competition among operators.