(MENAFN) Bahrain's fiscal deficit is predicted to enhance to 12.2 percent of GDP this year, from 18 percent in 2016, due to higher oil prices and continued reduction in spending.
However, the real GDP is projected to slow to 2.3 percent this year and 1.6 percent in the coming year, showing the ongoing fiscal consolidation and weaker investor sentiment.
Currently, the account deficit is estimated to reach more than 3.5 percent of GDP this year and will narrow over the medium-term.
In addition, overall GDP increased 3 percent last year, helped by strong growth of 3.7 percent in the non-oil sector supported by the installation of GCC-funded projects.
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