the two seas
The Crown Prince of Bahrain, Salman bin Hamad Al Khalifa, said on Twitter on Monday that the Kingdom signed a memorandum of understanding with Britain regarding strategic investments and cooperation that will bring investments from the Bahraini private sector to Britain, amounting to one billion pounds sterling (equivalent to 1.3 billion dollars).
The Crown Prince added that the investments will be through the Bahraini Sovereign Wealth Fund (Mumtalakat), Investcorp, the (GFH) Financial Group, and the Asset Management Company (Osool).
The agreement came on the sidelines of the visit of Bahrain’s Crown Prince and Prime Minister, Prince Salman bin Hamad Al Khalifa, to Britain, on Monday.
Bahrain’s economy witnessed strong growth in 2022, supported by the growth of the non-oil sector, as the continued momentum of financial reforms and the rise in oil prices improved the balance of public finances, according to the latest report of the International Monetary Fund.
According to the International Monetary Fund in its latest review, Bahrain’s economy grew by 4.9 percent last year.
Economic growth is expected to decline to 2.7 percent this year, and to remain stable at these levels over the medium term. This is in a state of uncertainty due to fluctuations in oil prices and global financial turmoil, in addition to the slowdown in global economic growth.
It is noteworthy that the “Standard & Poor’s” credit rating agency had affirmed Bahrain’s rating at “B+/B”, while maintaining a “positive” outlook.
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2023-07-03 16:36:30
