Summary: Bahrain’s economy, hit by the oil price crash and Covid-19 has little hope for recovery even as it continues its heavy spend on security.
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Nice thoughts on the military procurement, something that could continue if Trump is re-elected.
However, the paper overlooks the recent issuance of bonds ($800 million in Bahrain plus $2 billion in international financial markets). The amount represents around one-third of the planned spending in the fiscal year 2020, mirroring what the authorities intend to cut.
Also, there is no mention of the generous BHD 4.3bn (US$11.39bn) stimulus package offered in the wake of the pandemic. The package supports citizens, residents and businesses in the Kingdom and is equivalent to 29.6% of Bahrain’s annual GDP.