Economy on the upswing: Bahrain

The World Bank has raised its forecast for Bahrain’s economic growth this year to 3.5 per cent, even as it sharply downgraded global growth prospects.

The institution’s latest growth projection for the kingdom, revealed yesterday in the June 2022 edition of its flagship Global Economic Prospects report, represents an upward revision of 0.3 percentage point from the January forecast (3.2pc), mainly due to higher oil prices and improved…