Bahrain projects delayed in bid to ease growth

GROWTH CONTROLS: Projects in cities like Manama have been delayed as the governments tries to control inflation.

The Bahraini government is delaying projects in order to curb inflation, the chief operating officer of the country’s Economic Development Board (EDB) has admitted.

The country is hoping to use its relatively low inflation and measured growth rate to attract international investors who want to tap the booming economies of the region.

“We don’t want to have double digit growth, because growth impacts inflation,” Kamal Ahmed told Arabian Business.

“The government is even delaying some projects because it wants to control the growth.”

The EDB is a government agency charged with formulating and overseeing the economic development strategy of Bahrain.

Spurred by limited oil reserves, the Bahraini government has sought to diversify its economy away from oil, and its efforts appear to be paying off.

Last week, a report from US research organisation The Conference Board said the Kingdom’s economy was “uniquely sustainable” and that the labour force was one of the most skilled in the Arab world.

It also has a significantly higher percentage of locals in the workforce than its neighbouring countries.

“Bahrainis know that they have to work hard in order to live a decent life,” Ahmed said.

A tolerant, cosmopolitan society will also be used to sell the island in an international marketing drive, he said.

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