Bahrain’s crude oil output surged by 28.1 percent in the first quarter of 2011, consolidating state revenue, generating current account surplus and easing the need to resort to austerity policies, said a senior government official.
The economy grew by 1.8 percent compared to the same period last year, the slowest since 2004, added Dr Mohammed Al Amer, president of Central Informatics Organisation.
While growth in the oil sector has been satisfactory due to service and industrial activities, tourism-related activities - particularly hotels - registered a 30.3 percent drop compared to the same period last year due to a decrease in tourists’ inflow, Dr Al Amer said.
