Bahrain intends to get the private sector stimulated and get businesses interested in the economy. This will help the government achieve the 2030 target of being no longer reliant on oil and having a wider fiscal base. However, despite the government creating a fiscal balance programme within its broader recovery agenda, several economists doubt the country’s ability to hit the key objective of achieving fiscal balance by 2024. Bahrain’s construction industry is gradually moving back to steady growth levels as the global economy continues to recover from the ramifications of the pandemic. Residential, infrastructure, renewables and oil and gas projects are among the industries that the government will focus more on in 2023.
This Ventures Onsite report provides insights into Bahrain’s economy, the construction sector, contractor awards across industries and major projects expected to be awarded in 2023.