S&P Global Ratings revised Bahrain's outlook to "stable" from "positive".
In the first quarter of 2023, Bahrain recorded economic growth of 2% © Mena Today
S&P Global Ratings revised Bahrain's outlook to "stable" from "positive", citing spending pressures that could push the country's fiscal deficit wider than the credit ratings agency previously expected.
S&P maintained its "B+/B" ratings on the country and said it expects that the government will implement measures to reduce its budget deficit and benefit from additional support from other Gulf sovereigns if needed.
"We expect the government will reinvigorate reforms to consolidate its fiscal position, largely via increasing non-oil revenue through 2026," it said in a statement.
The agency now projects fiscal deficits of 3% to 4% of Bahrain's GDP over 2023-26, compared with 2% to 3% in its previous review.
Indian-origin steel tycoon Lakshmi N. Mittal, long considered one of Britain’s wealthiest residents, is reportedly preparing to shift his base away from the UK as Prime Minister Keir Starmer’s Labour government moves ahead with new tax measures targeting the super-rich, The Sunday Times reported.
Dubai has secured its place as the world’s second-largest gold trading hub, despite having no domestic production and limited historical ties to the industry.
UAE President Sheikh Mohamed bin Zayed Al Nahyan and King Hamad bin Isa Al Khalifa of Bahrain attended the joint Emirati-Bahraini military exercise Rabdan–Shuwaiman 2025 on Saturday, reaffirming the deep strategic and fraternal ties between the two Gulf states.
To make this website run properly and to improve your experience, we use cookies. For more detailed information, please check our Cookie Policy.
Necessary cookies enable core functionality. The website cannot function properly without these cookies, and can only be disabled by changing your browser preferences.