Merrill Lynch: Bahrain’s Economy Deteriorated More than Expected
2017-07-04 - 7:31 p
Bahrain Mirror: A new report of Bank of America Merrill Lynch said that Bahrain's economic situation is not expected to improve during the coming period.
The report, issued on Sunday, anticipated that the GCC States would ask Bahrain for substantial reforms to restore sustainability and development.
The bank's report explained that Bahrain's economy deteriorated in the past period more than expected, adding that the cash reserves decreased and public debt increased.
The reason behind instability in Bahrain's economy is the lack of a credible plan to improve financial conditions during the next period, which made the government resort to international bonds, according to the report.
In April, the International Monetary Fund predicted that Bahrain's public debt would rise in 2017 amid attempts to cope with economic deterioration caused by oil prices.
"Capital Economics" expected a 2% decline in Bahrain's GDP growth during this year compared to 3.5% growth in 2016. Bahrain might maintain the same ratio in 2018, without an increase or decrease.
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