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Bahrain's low inflation leads to faster economic growth |
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08.18.2009 |
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A report conducted by the Dubai School of Government (DSG) and published by the Cairo-based Economic Research Forum (ERF) said that Bahrain is one of the fastest growing economies in the Arab world, Gulf Daily News reported.
The report said that low inflation and reasonable fiscal policies are driving the country's growth engine. It said that a huge number of trade pacts with partners across the world have opened new opportunities for the Kingdom's development.
It added that restructurings to Bahrain's political system and labor market regulations have contributed to a reform of the country's economy, though; local labor pressures and strict market policies would continue to slow down economic expansion.
The major country report on Bahrain's economy recommended that the government should seek further diversification of trade goods and partners, in order to stabilize the external sector. It said that sustained efforts at streamlining the country's labor market regulatory structure should help ease the pressures on the labor market.
It also suggested that synergies among political and economic authorities would significantly contribute to national wealth and future growth, the report said.
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Source:www.menafn.com |
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