Bahrain Chamber sees economy grow 3.3%

      Published on Monday, 26 April , 2021      1410      
Bahrain Chamber sees economy grow 3.3%

  • Business

Bahrain Chamber of Commerce and Industry has forecast a real GDP growth of 3.3 per cent this year with a drop in public debt.

In its report on developments of local economic status during the first quarter of the year, the chamber reported a 2.3pc drop in consumer price index last year as compared with 2019.

According to the report, the number of employees in the private sector dropped by 6pc last year compared with 2015, including most sectors like agriculture and fishing while the health sector witnessed the highest rise in the number of workers at 138pc.

Fund transfers through Fawri+ in February this year increased by 424pc and e-payment operations by 15.5pc.

The value of operations rose by 2.6pc, while cash withdrawal operations at ATMs dropped 5pc last year compared with 2019.

The value of point of sale and e-commerce operations surged 118pc in supermarkets but the value of point of sale operations in the jewellery sector registered a 45pc drop, the report added.

The number of tourists visiting Bahrain dropped by 83pc last year (from 11.1 million visitors in 2019 to only 1.9m last year).

Tourism revenues declined by 80pc, from BD1.5m to BD0.3m, it said.

It noted that Bahrain ranked 39th in the Global Competitiveness Index.

The Global Food Security Index 2020 (GFSI) ranked the kingdom 49th globally.

Category Business | 2021/04/26 latest update at 9:00 PM
Source : Zawya | Photocredit : Google
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