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Bahrain Central Bank Expects Real GDP to Grow 3.1% in 2021

Bahrain Central Bank Expects Real GDP to Grow 3.1% in 2021

Monday, 22 November, 2021 - 09:30
The Central Bank of Bahrain is seen in Manama, Oct. 27, 2013. (Reuters)

Bahrain's Central Bank Governor, Rasheed Mohammed al-Maraj, said in an interview published on Sunday he expects the real gross domestic product to grow 3.1 percent in 2021.

Bahrain's annual real GDP growth reached 5.7 percent in the second quarter of 2021, pushed by the growth in the non-oil sector resulting from the recovery of the sectors most damaged by the coronavirus pandemic such as transportation and tourism.

The GDP is expected to continue to grow in the third and fourth quarters of 2021, Maraj said.

He noted that international bond issues denominated in US dollars were made with an amount of $4.5 billion during 2021. International bonds worth $1.475 billion were due during the same year.

The governor told local newspaper Albilad that foreign reserves increased to 1.63 billion dinars in September, and they were expected to keep growing because of the expected increase in revenues due to higher oil prices.

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