Bahrain's economy recorded a contraction of 8.9% year on year during the second quarter of the year, in light of the restrictions imposed to contain the Corona virus.
According to Reuters, hotel and restaurant activities fell 61.3 percent compared to the same period last year.
The government attributed this in a statement to the imposition of widespread restrictions on tourism, hotels, restaurants and other related economic activities due to the Covid-19 pandemic.
The oil sector grew 3.2 percent at constant prices, while the non-oil economy declined 11.5 percent.
This month, Standard & Poor's Global said that Bahrain's real GDP could contract by five percent this year due to the impact of the pandemic and the decline in oil prices on consumption and investment activities. / p>
The credit ratings agency added that it does not expect a decline in the oil and gas sector because Bahrain is a small product and is not subject to OPEC cuts.
Bahrain received a $ 10 billion bailout package from its wealthy Gulf neighbors in 2018.
The International Monetary Fund expects Bahrain's fiscal deficit to jump to 15.7 percent of GDP this year from 10.6 percent in 2019.
