In a low-tax nation such as Bahrain the obvious part of the balance sheet to look at when addressing a stubborn fiscal deficit is government spending. It is hardly surprising, then, that over the past year the question of government subsidies has come to the fore in the public debate on the nation’s challenging economic situation.
One of the unfortunate consequences of the recent fall in oil prices is a regional tightening of lending conditions for small and medium-sized enterprises (SMEs). The vulnerability of smaller firms to business interruptions means that lenders adopt a cautious stance, often demanding more collateral or stricter documentation standards, and...
Despite declining oil prices and a renewed focus on fiscal contraction, one government body has bucked the consolidation trend and embarked on a new phase of expansion. Established in 2006, Bahrain Mumtalakat Holding Company is the independent holding company for Bahrain’s strategic non-oil-and-gas-related assets, and as such is the government...
Bahrain’s economic story over the past year is one of two parts: while the government has given much attention to the nation’s stubborn fiscal deficit and a challenging process of subsidy reduction, a longer-term focus has remained on the objective of economic diversification that the kingdom established in the early years of this century....
One of the most important issues currently facing the Middle East is the changing composition of its demographic structure. A massive cohort of young people – known as a youth bulge – is challenging policy makers, with youth policy affecting security, education, the labour market and welfare programmes, among other areas. Given the relative...
Since Saudi Arabia began reducing its domestic wheat production in 2008, the issue of food security has been high on the agenda for GCC governments. The kingdom, which was once self-sufficient in the grain and even exported to the wider region, recognised a fact that is true across the whole of the Arabian Peninsula. It is running out of water...
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