As the weekend kicks off in Bahrain, Saudi Arabian and Kuwaiti cars jam the capi...
MANAMA - As the weekend kicks off in Bahrain, Saudi Arabian and Kuwaiti cars jam the capital’s roads and hotel lobbies fill with visitors looking for bars, restaurants and other night-time entertainment.
Their $10 billion bailout pledge, along with Bahrain’s inclusion in JPMorgan’s emerging market indexes, have transformed its bonds from a busted bet to a boon for investors. Instead, the government has set its sights on trying to grow the local economy to boost revenues and balance the books. Bahrain’s ministry of finance and national economy said the country’s fiscal program was on track to deliver a balanced budget in 2022.
Bahrain’s government is also wary of the population’s long history of political protest. Most recently, it quashed an uprising in 2011 with the help of Saudi Arabia, which fears unrest in its smaller neighbor would encourage dissent among its own population and Shi’ite minority. “It takes a minimum of four to five years, so if you’re going to get any revenue it’s not going to be immediate, so you still have to face the adjustment to a large fiscal deficit and a large budget deficit,” said Nasser Saidi, a Dubai-based economist.In the meantime, Bahrain has been trying to market itself as a financial technology hub for the Middle East and North Africa.
“How much more are you going to get from fintech? Are you going to add 1 or 2 percent of GDP? I don’t think so, it’s not a big employment generator,” said Saidi.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Bahrain sentences 167 people to prison in crackdown on dissentA Bahraini court sentenced 167 people arrested in 2017 at a sit-in outside the h...
Consulte Mais informação »
U.S., Ethiopia Maneuver Over Crashed Plane’s Black BoxesU.S. air-safety investigators engaged in intense behind-the-scenes discussions with their Ethiopian counterparts over where the black-box recorders found in the wreckage of Ethiopian Airlines Flight 302 will be downloaded.
Consulte Mais informação »
Breakingviews - Cox: A Saturday outing with France’s gilets jaunes(Reuters Breakingviews) - Techno music from a portable speaker sounded the alarm...
Consulte Mais informação »
A Shady New Website Has Outed Women Who Accused Former Rep. Ruben Kihuen Of Sexual Harassment“I cannot possibly understand how anyone has enough evil in their heart to publicly out harassment victims and push a smear campaign against them,” one of the women who accused Kihuen of sexual harass
Consulte Mais informação »
A retired top executive says this killer question will kick-start (or reboot) your careerThis killer question will kick-start (or reboot) your career
Consulte Mais informação »
Drake Bell teases a 'Drake & Josh' reboot: 'We’re working on something'Drake Bell says he and former 'Drake & Josh' co-star Josh Peck are in talks with several networks about a new show.
Consulte Mais informação »
Ping An offers up a glimpse of China’s bank rebootThe insurance giant is preparing a $1 bln IPO for OneConnect, a startup offering tech support for mainland lenders, including fancy credit checks. Beijing wants banks to lend more to smaller, private firms, but few can handle the risk. It’s a dilemma that leaves a lucrative gap.
Consulte Mais informação »