Bahrain’s economy recorded its highest growth since 2011 in the second quarter this year, shows the latest government data.
The preliminary results published by the Information and eGovernment Authority (iGA) yesterday indicate that gross domestic product (GDP) in real terms grew by 6.9 per cent in Q2.
Real GDP is a measure of the value of the goods and services produced by an economy in a specific period, adjusted for inflation.
The iGA data was the basis of the Finance and National Economy Ministry’s summary of the main economic indicators for Q2-2022, which noted that the positive economic growth was driven by the strong performance of the non-oil sector, across the sectors targeted by the Economic Recovery Plan.
Announced late last year, the plan includes an investment outlay of about $30 billion in projects to drive growth, boost employment for citizens and attract $2.5bn in foreign direct investment by 2023.
The Q2 report shows that the hotels and restaurants sector recorded the strongest growth of 18.1pc in real terms.
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