Bahrain's Economy Earns Strong Second Quarter Results

MANAMA, Bahrain, Aug. 30, 2011 /PRNewswire-USNewswire/ -- Bahrain's economy posted strong second quarter results, indicating Bahrain's quick recovery and strong economic outlook. During the second quarter, the country's economy grew 19.8 percent at current prices compared to the same quarter last year, the Central Informatics Organization (CIO) said.

"Bold decisions taken by Gulf governments during the recent incidents, particularly Saudi Arabia and the UAE, have helped boost business sentiment in the country and improved the investment climate for the private sector," CIO President Dr. Mohammed Al Amer said.

The boosted economic numbers have been linked with increased international oil prices, according to the CIO. At constant prices, the country's economy registered 0.8 percent growth compared to last year.

Growth reached the banking sector, which saw a 3.7 percent increase at constant prices, while the services sector also posted stable growth in the areas of goods producing industries, transportation and communications, government services, social and personal services, electricity and water and agriculture and fishing.

Dr. Al Amer is confident the numbers reflect the country's strong economic future.

"This positive impact will encourage foreign and institutional investors to return to Bahrain."

SOURCE Kingdom of Bahrain

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