Mubasher: Bahrain’s economic growth grew in the first quarter of the fiscal year 2016 by 4.5%; its highest level since 2014, according to the quarterly report released on Wednesday by the Economic Development Board (EDB).
The economic growth was driven by a 12.1% year-on-year rise in the oil sector.
The non-oil economy continued to benefit from major infrastructure investment as projects worth $4 billion were tendered under the GCC Development Fund, the report said.
The social and personal services grew by 8.4% y-o-y, reflecting the strong demographics drivers underpinning the demand for private education and healthcare.
The construction sector rose by 5.4% y-o-y, and the financial services sector leapt by 3.1% y-o-y.
