Credit rating agency Standard & Poor’s has revised the outlook for Bahrain from “stable” to “positive” due to the improved financial path and confirms my rating of “B/B+”.
The agency said the positive outlook indicates it expects the government to continue implementing tax reforms to reduce the budget deficit.
The agency believes that after 2023, the fiscal path should remain dependent on oil prices and the government’s desire to continue budget support, according to Reuters.
He said the prospect of receiving more support from the GCC countries would help maintain confidence in the Bahraini dinar’s peg to the dollar.
Read More About: Business News