Measures taken by Bahrain to cushion the repercussions of the 2008 global fiscal distress nearly doubled its public debt but its ratio to GDP remains far below the 60 per cent ceiling required by the Gulf monetary union, a Kuwait bank has said.
From around 1,348 million (Dh23,400 million) at the end of 2009, the Gulf country’s public debt surged to BD2,747 million (Dh26,460 million) at the end of the first half of 2011, Global Investment House (GIH) said in an economic review of the Island nation.
The report said the debt in 2011 was nearly 12.5 per cent higher than its level at the end of 2010.
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