“Guarantee”: $6.9 billion in Bahrain’s foreign currency reserves in 2024

Anas Al-Aghbash

CPI fell to 1.4%

An economic report estimated that Bahrain’s foreign currency reserves will reach $6.9 billion during the year 2024, compared to $4.8 billion during the year 2023, an increase of approximately 30%, according to the Arab Corporation for the Guarantee of Investment and Export Credit (Daman).

According to Daman, the percentage of foreign currency reserves covering imports of goods and services during the past year exceeded 2.3 months, while its coverage of imports stabilized at 1.7 months during the years 2021, 2022 and 2023.

Comparing Bahrain’s foreign currency reserves during the year 2020, the report showed that they recorded $2.2 billion, rising to $4.7 billion in 2021, to record $4.5 billion in the following year, continuing their upward trend in 2023 to reach $4.8 billion, and then $6.9 billion. last year.

On the other hand, the consumer price index (inflation) in Bahrain declined to 1.4% during the year 2024 compared to 3.6% in 2022, according to the report.

The report also suggested that total investments in Bahrain would grow to $28.8 billion during 2024, representing 13.5% of the total GDP, compared to $28.5 billion in 2023, which represents 12.7% of the GDP, while the total investments reached In 2022, about $26.7 billion, and $25.6 billion in 2021.