Manama: The Economic Development Board (EDB) recently said that the Kingdom’s non-oil sector is well positioned for growth in 2014 following a sharp rebound in the oil sector in 2013.
The first Bahrain Economic Quarterly (BEQ) for 2014 also highlights expectations of further growth in key sectors such as infrastructure, with predictions of increasing momentum in the coming months. The forecasted growth will have a marked positive impact on contractors, confidence, and increased bank credit growth.
The report, relayed by BNA earlier on Sunday identified three factors contributing to the non-oil sector growth and comeback, including the delay in incremental government spending. As a result of this, the annual growth rate of the government services sector in the national accounts slowed down sharply last year. However, government expenditure for this year is expected to be more robust compared to last year. QNA
