Bahrain Autos Market Turning A Corner

The auto market in Bahrain is set to show sustained growth in sales over the coming five years. This is driven largely by continued economic expansion. The Bahraini market is largely saturated, but as residents grow in wealth it is hoped that new cars will be purchased more often. The economic future of Bahrain appears to be more secure today than it appeared even at the beginning of 2010. Standard and Poor's ratings service has reaffirmed its A/A-1 rating for the sovereign debt of Bahrain. This comes as the firm predicts that the price of oil in 2011 and 2012 will be around US$80 a barrel. This is very close to the nation's 'break-even' point, the price of oil which allows government expenditure to be balanced by oil and gas revenue. The ratings service has stated that it expects the nation's deficit in 2011 to stand at 1.7% and in 2012 at 1.2%.

To read the full article, please choose one of the following options: