Despite ongoing fiscal challenges, Bahrain’s economy proved resilient throughout 2019, with the World Bank projecting growth of 1.8%. While expansion of the non-oil economy is expected to slow from 2.5% to 2.2%, the oil sector is due to move back into the black (0.2%), reversing the 1.2% contraction recorded the previous year.
Increased public investment and a recovery in demand across the region helped Sharjah post more robust growth in 2019, as the emirate continues to expand its free zones and industrial projects.
Abu Dhabi’s economy expanded steadily in 2019, thanks in part to oil sector growth and the ongoing rollout of publicly backed economic stimulus plans.
Amid continuing diversification efforts, an expansion of mining and oil and gas activity helped Ghana maintain its status as one of Africa’s fastest-growing economies in 2019.
Indonesia has sought to stimulate the economy in 2019, with President Joko Widodo, known as Jokowi, outlining significant growth plans after securing his second term in office.
A rebound in the mining and resource industries helped drive stronger economic growth in Papua New Guinea in 2019, a year which saw Peter O’Neill’s eight-year tenure as prime minister end.
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