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Bahrain's economy praised
- Bahrain: Wednesday, August 20 - 2008 at 10:45
Bahrain's economy is by far the most diverse and sustainable in the Middle East, according to a new report by the Conference Board, a not-for-profit research organisation based in the US. Finance and manufacturing are among the country's largest sectors, with oil and gas production contributing less than 20% of GDP growth. This contrasts with other GCC countries which are heavily dependent on fossil fuel production. The basis of Bahrain's economic growth is the dramatic increases in labour productivity. While other GCC members have achieved steady rates of growth, this had occurred largely through rapid increases in the labour force - an unsustainable source of progress, the report said.
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Jeff Florian, Senior ReporterWednesday, August 20 - 2008 at 10:45 UAE local time (GMT+4)
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