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By Stephen Nakrosis
S&P International Rankings on Friday raised its outlook on Bahrain to constructive from secure and affirmed the nation’s ‘B+/B’ rankings.
S&P stated the brighter outlook displays expectations that Bahrain’s authorities will proceed fiscal reforms to scale back the nation’s finances deficit, and that the nation may gain advantage from further help from different Gulf Cooperation Council sovereigns if vital.
Bahrain’s financial system can also be benefiting from a rise in regional exercise tied to elevated oil costs, S&P added. Within the first half of this yr, the nation posted a report present account surplus of about 17% of GDP, supported by excessive oil and aluminum costs, in response to S&P.
The rankings company additionally stated “Bahrain’s comparatively various financial system advantages from proximity to the massive Saudi Arabian market, sturdy regulatory oversight of the monetary sector, a comparatively well-educated work drive, and low-cost setting.”
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
11-25-22 1653ET
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