Bahrain beat GDP growth expectations in 2013 and is poised to keep pace with its larger regional neighbours this year, according to a recent report from the country’s Economic Development Board (EDB).
The Middle East
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Counting on a revival in the tourism sector to help restore vigorous economic growth, Jordan is also looking to promising official data for the first quarter of the year.
The busy food and beverage industry in Kuwait is set for further growth, as domestic demand fuelled by rising incomes, combined with forecasts of higher turnover due to expansion in the tourism sector, pushes up trade volumes and attracts new suppliers in the retail and hospitality chains.
Turkey’s powerhouse automotive industry is expected to experience a downturn in 2014, as higher interest rates and a slowing economy cause domestic buyers to hit the brakes on spending. The outlook is likely to remain flat for the rest of the year, though solid exports may help offset some of the localised cooling in the market.
The Kingdom of Bahrain is pushing forward with its plan to invest $4.4bn in housing, utilities and education projects over the next three years. The first wave of infrastructure development, announced in January, is gaining momentum, and new construction tenders are starting to be awarded.
After years of discussions and document-drafting, Jordan is poised to introduce a new investment law which the administration hopes will play a key part in reinvigorating the economy.