Bahrain expects its economy to grow between 2.0 and 2.5 percent in 2019, in line with last year’s pace, its central bank governor said on Tuesday.
An aid program from Gulf allies does not mean that Bahrain will not need to raise debt this year, Rasheed Mohammed al-Maraj told reporters on the sidelines of a finance conference in Manama.
Debt financing will be in smaller amounts, he said, and financing plans for this year will be decided after the budget is approved.
Bahrain’s cabinet approved on Monday a draft budget for 2019 and 2020, which projects a reduction in its budget deficit and a rise in the state’s revenues, according to a government statement.
Bahrain’s revenues are expected to reach 2.74 billion dinars ($7.27 billion) in 2019 and 2.87 billion dinars in 2020, the statement said.