Economy to Shrink 5% in Bahrain, 7.5% in Abu Dhabi

Abu Dhabi’s economy will contract 7.5 percent this year, S&P Global Ratings said, while Bahrain’s economy will shrink 5 percent this year because of low oil prices.

Bahrain’s fiscal deficit is seen widening to 12 percent of GDP this year from 4.6 percent in 2019, largely due to lower oil prices.

It also expected the fiscal deficit in the emirate to rise around 12 percent this year from 0.3 percent in 2019. The smallest emirates in the…