الرئيسية
By Reuters
MANAMA, Nov 23 (Reuters) - Bahrain's economic growth is expected
to be positive in the third quarter as the economy has already overcome
a major part of the impact of social unrest earlier this year, its
central bank governor said on Wednesday.
The island kingdom, a
Gulf financial hub, had been rocked in February and March by its worst
public unrest since the 1990s, which closed banks and shops and
triggered a capital flight.
Asked about the impact of the turmoil
on the economic growth, Rasheed al-Maraj told reporters: "A major part
of that we are already (passed) as the figure shows for the second
quarter and hopefully for the third quarter."
"For the third
quarter, from feedback we are getting, it will be positive growth," he
said on the sidelines of a an Islamic finance conference in Bahrain's
capital.
Bahrain's economy grew by 1 percent quarter-on-quarter
in April-June after shrinking in previous three months, but annual
growth decelerated to its slowest pace since 2008 as the impact of
unrest continued to stifle activity.
The small non-OPEC oil
exporter saw its real gross domestic product falling by 1.4 percent in
the first three months of 2011 compared with the previous quarter, its
first quarterly contraction since the global financial crisis in late
2008.
Analysts polled by Reuters in September forecast Bahrain's
economy, the smallest in the Gulf, to grow by 2.0 percent this year,
below a 4.5 percent expansion seen in 2010. Growth is expected to pick
up to 3.2 percent in 2012.
Maraj also said that Bahrain's debt was "still within comfortable boundaries".
The
International Monetary Fund forecast in October the country's gross
government debt to rise to 34.2 percent of GDP this year, the highest
level since 2004, from 32.0 percent in 2010.
Bahrain, which pegs
its dinar to the U.S. dollar, boosted its government spending by 22
percent this year from its original target to ease social tensions. It
sold a $750 million Islamic bond earlier this month, which was its first
sovereign debt issue since March 2010.
MANAMA, Nov 23 (Reuters) - Bahrain's economic growth is expected
to be positive in the third quarter as the economy has already overcome
a major part of the impact of social unrest earlier this year, its
central bank governor said on Wednesday.
The island kingdom, a
Gulf financial hub, had been rocked in February and March by its worst
public unrest since the 1990s, which closed banks and shops and
triggered a capital flight.
Asked about the impact of the turmoil
on the economic growth, Rasheed al-Maraj told reporters: "A major part
of that we are already (passed) as the figure shows for the second
quarter and hopefully for the third quarter."
"For the third
quarter, from feedback we are getting, it will be positive growth," he
said on the sidelines of a an Islamic finance conference in Bahrain's
capital.
Bahrain's economy grew by 1 percent quarter-on-quarter
in April-June after shrinking in previous three months, but annual
growth decelerated to its slowest pace since 2008 as the impact of
unrest continued to stifle activity.
The small non-OPEC oil
exporter saw its real gross domestic product falling by 1.4 percent in
the first three months of 2011 compared with the previous quarter, its
first quarterly contraction since the global financial crisis in late
2008.
Analysts polled by Reuters in September forecast Bahrain's
economy, the smallest in the Gulf, to grow by 2.0 percent this year,
below a 4.5 percent expansion seen in 2010. Growth is expected to pick
up to 3.2 percent in 2012.
Maraj also said that Bahrain's debt was "still within comfortable boundaries".
The
International Monetary Fund forecast in October the country's gross
government debt to rise to 34.2 percent of GDP this year, the highest
level since 2004, from 32.0 percent in 2010.
Bahrain, which pegs
its dinar to the U.S. dollar, boosted its government spending by 22
percent this year from its original target to ease social tensions. It
sold a $750 million Islamic bond earlier this month, which was its first
sovereign debt issue since March 2010.