Zahra Habib
A recent economic report, issued by the Institute of Legal Accountants in England and Wales (ICAEW) that the growth of GDP in the Gulf Cooperation Council countries reaches 4% in 2025, an increase of 1.8% from 2024, despite the continuous geopolitical tensions by shaping the prospects of the global economy, while the growth of the gross domestic product of Bahrain doubles to 2.8% in 2025, With non -oil economics continuing to lead growth.
The report emphasized that the Gulf Cooperation Council countries are not subject to the danger of the targeted American tariffs, and that the United States is still a major commercial partner of the region, with expectations of strong growth in all sectors that are not related to energy, and expanded by 4.4% this year, an increase of previous estimates that talked about 3.9% in 2024.
At the level of Bahrain, the report expected the oil sector to recover, contribute positively to general growth, and that the growth of local product will double to 2.8% this year, provided that the non -oil economy continues to lead growth by 3.1%, while the workforce in Bahrain is likely to witness growth. The report pointed out that the prospects for non -oil growth come positive, as sectors such as residence and food services, financial activities, and insurance are witnessed by strong growth.
The report touched on Bahrain’s hosting of the “Gulf Gate” effectiveness under the slogan “Investing in a fast -transformation zone” during November last year, as the curtain was dropped after deals worth $ 12 billion in the sectors of financing, industry, real estate, and tourism, highlighting the progress made by Bahrain in the field of economic diversification.
The report expects oil growth by 0.9%, Bahrain Vision 2030 will move the Bapco updating program, which costs $ 6 billion, and this improvement in production capacity will support the growth of the energy sector.
He explained that oil production will gradually increase from next April, which will enhance the growth of the oil sector of the Gulf states to 3.2% after two years of shrinkage.
The report expects that Saudi oil production will increase to 9.3 million barrels per day for this year, an increase of 9.1 million barrels per day, raising expectations for the growth of the oil sector to 1.9% in 2025, compared to the previous estimate of 1%.
The United Arab Emirates is scheduled to benefit from a higher production share of 3.5 million barrels per day, which supports the growth of the oil sector by 4.8%.
The report indicated that the oil sector is relatively stable in recent years at about 600 thousand barrels per day, and the project of expansion of the North Gas field will have a positive impact in the medium term, as the energy of liquefied natural gas production will rise to 126 million tons annually in 2027 after it was 77 million tons annually.
The tourism sector is the fastest growing sectors in the region in 2024, and will remain a vital engine for growth and diversification, and trade will remain a major driver of growth.
While the budgets of the Gulf Cooperation Council states this year continue to balance the financial discipline and the sustainable economic path, with a strong focus on social development, including education and health care.
The report also expects the growth of the GDP of Qatar by 2.1% this year, and that growth will be doubled in 2026, with the start of the additional production capacity of liquefied natural gas.
