Economic Outlook Continues to Improve Following Announcement of Increased Government Spending, Positive Regulatory Environment

MANAMA, Bahrain, July 14, 2011 /PRNewswire-USNewswire/ -- Following the announcement of a rigorous two-year government spending program, key sectors of the Bahraini economy continue to grow and improve, the Times of Oman Reports.

Specifically citing the stabilization in the financial industry, rental housing market and hotel industry, analysts at the ratings agency Standard & Poors expressed its confidence in the long term growth path of the Bahraini economy.

"We think Bahrain was seen for a very long time as the centre for wholesale banking in the Gulf, with a good infrastructure and good regulation track record," said a spokesperson for Standard & Poors.

According to property consultancy CBRE, Bahrain's superior financial regulatory climate insulated Bahrain from low priced competitor challenges from Dubai and Qatar. In the past months, the Central Bank of Bahrain issued eight new licenses for financial institutions alone, Gulf Daily News reports.

This assessment coincides with recent positive economic forecasts following the lifting of the State of National Safety on June 1 by His Majesty, King Hamad.

SOURCE Kingdom of Bahrain

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