Bahrain’s economy grew by 4.9% in 2022, the highest rate since 2013. The Gulf nation’s growth was driven by a 6.2% jump in real non-oil gross domestic product, Bahrain’s state news agency reported.This was the highest rate since 2012 and above the 5% annual target set by the economic reform plan. The contribution of the non-oil sector to real GDP reached a record 83.1% in 2022. However, the oil economy fell by 1.4% last year due to a drop in production.To strengthen its economy, Bahrain unveiled a major economic reform plan in 2021 that aimed to invest around $30 billion in strategic projects to boost post-pandemic growth, employment for citizens and attract foreign direct investment.In line with the multi-year plan, the government adopted cost-cutting measures and aims to create more than 20,000 jobs for citizens every year until 2024 and train a further 10,000 through its Tamkeen program. The move is designed to help the country balance its budget by 2024. (ICE Doha)

Fonte notizia: i24news