The finance ministry of Bahrain has projected a 3% economic growth for the country in 2024, with a strong emphasis on non-oil sectors.

In the first quarter of 2024, Bahrain's economy experienced a year-on-year growth of 3.3%, as reported by the Ministry of Finance.

Significant contributors to this economic growth included the accommodation and food services sectors, as well as financial services and insurance.

The government is actively working to diversify income sources and reduce the country's reliance on hydrocarbons.

Given its status as one of the more indebted economies in the region, Bahrain is implementing reforms aimed at facilitating business operations and attracting foreign investment.

During the same period, the oil sector also saw a growth of 3.4%, indicating a balanced contribution from both oil and non-oil sectors.

Notably, the growth in Bahrain's non-oil GDP was 3.3%, which accounted for nearly 85.9% of the overall GDP, highlighting the importance of diversifying the economy.