Non-oil sector grows by 3.5%: Bahrain

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Bahrain’s non-oil sector grew by 3.5 per cent year-on-year at constant prices during the first quarter of 2023.

The national economy marked a 2pc annual growth at constant prices, according to the quarterly economic report of Bahrain for the first quarter. The results were announced during the weekly Cabinet meeting chaired by Deputy Prime Minister Shaikh Khalid bin Abdulla Al Khalifa yesterday.

Ministerial committee for financial and economic affairs and fiscal balance had submitted the report, reflecting Bahrain’s economic outlook.

The Cabinet affirmed the importance of the official visit by His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, to the United Kingdom, where he met with Prince William of Wales, British Prime Minister Rishi Sunak and other senior officials.

The Cabinet reiterated its commitment to expedite the implementation of the agreements and MoUs signed during the visit, which will contribute to advancing co-operation between the two countries in the economic, investment, financial, banking, education and training fields.

The Cabinet commended the Human Rights and Democracy Report 2022 published by the UK’s Foreign, Commonwealth and Development Office last Thursday, which removed Bahrain from the list of countries classified as priority countries for human rights.

The report reflected the kingdom’s human rights achievements under comprehensive development led by the King, with the support of HRH the Crown Prince and Prime Minister.

The Cabinet followed up on preparations for Ashoora in the kingdom’s governorates, highlighting the efforts by the Interior and other concerned ministries as well as authorities to meet its requirements.

The Cabinet discussed several memorandums, approving the following:

1. A memorandum from the Interior Minister on the establishment of a special platform to exchange information between GCC countries for combating money laundering, financing terrorism and other related crimes.

2. A memorandum by the ministerial committee for legal and legislative affairs on the government’s response to 10 proposals submitted by Parliament and a proposed law submitted by the Shura Council.

3. The Cabinet reviewed the Municipalities Affairs and Agriculture Minister’s memorandum on the decisions of the kingdom’s municipal councils for the first session of the sixth municipal term (December 2022 to June 2023).

Finally, the Cabinet noted a ministerial report on the results of Bahrain’s participation in the sixth joint Ministerial Meeting of the Strategic Dialogue between the GCC countries and Russia.