Bahrain cbank sees GDP growth at 4pc
Manama, March 13, 2013
Bahrain's central bank expects economic growth of around 4 percent for the kingdom this year, its governor Rasheed Al-Maraj said on Wednesday.
Al-Maraj, speaking to reporters at a regional meeting of central bank chiefs, did not explain why his forecast was lower than that of the government's Economic Development Board, which last month predicted gross domestic product would expand 6.2 percent in 2013 after an estimated 3.9 percent in 2012.
He also said he expected inflation averaging around 1.5 percent this year. In January, inflation was 3.6 percent; analysts polled by Reuters in January predicted average inflation of 2.4 percent in 2013, down from 2.8 percent in 2012.
Al-Maraj said he was satisfied with the level of inflation and did not see significant inflationary pressure. He also said he was satisfied with the health of the banking sector. - Reuters