BAHRAIN’S economy is on the right track with a 2.5 per cent annual growth in GDP in real terms.

This was revealed as the Cabinet reviewed a memorandum from the ministerial committee for financial and economic affairs and fiscal balance as well as the Bahrain Economic Quarterly report for Q3 2023.

His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, chaired the weekly meeting at Gudaibiya Palace yesterday.

The report highlighted that the annual GDP growth was driven by a 4.5pc increase in the non-oil sector, which accounted for around 83.6pc of real GDP. From January to October of this year, the average consumer price index (inflation) remained steady at 0.2pc.

As the New Year approaches, the Cabinet extended its wishes for 2024 to be a year of advancement and prosperity for Bahrain and its people.

The Cabinet also expressed hopes for global peace, security and prosperity across the world.

HRH the Crown Prince and Prime Minister directed the continuation of development and innovation to enhance the quality and efficiency of government services for the people of Bahrain. He urged all government service centres to strive for excellence in delivering exceptional services that meet the present and future aspirations of Bahraini citizens.

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