Bahrain economy is on the rebound

The Economic Development Board issued its Bahrain Economic Quarterly report Wednesday recording a net improvement in all key economic sectors, officials said. The Gulf Daily News said the EDB estimates that Bahrain's annual real output grew at 2.2 percent last year as the economy recovered faster than expected in the second half of the year. Statistics from the Central Informatics Organization indicated that after a sharp fall in output in the first quarter of 2011 due to unrest in Bahrain, output returned to its previous level in the third quarter and grew by 3.2 percent in the fourth quarter compared to the same period a year earlier. The Gulf Daily News said while the real estate sector suffered from the economic downturn, government spending is projected to compensate and fuel sustainable growth.