Bahrain’s Information & eGovernment Authority (iGA) recently discussed providing data to support the financial sector’s contributions to the kingdom’s gross domestic product (GDP) with the Ministry of Finance and National Economy and the Central Bank of Bahrain (CBB).

In line with the Bahrain Economic Recovery Plan and the Financial Services Sector Development Strategy (2022-2026), the meeting was held at the iGA’s premises at Al Barsha Building in Muharraq.

Also discussed were methodologies for calculating GDP in line with international standards, the National Classification for Economic Activities which enables comparisons between international and national data, and guidelines for improving national classifications and the Kingdom’s statistical systems.

Discussing the financial sector, the participants studied ways to provide data to support the financial sector’s contribution to GDP as well as details related to the data’s quality, accuracy, frequency, and comprehensiveness.

iGA Director of Economic Statistics, Noora Al-Saadoon thanked the CBB for its continuous support in providing the required data, as well as the Ministry of Finance and National Economy for its efforts in enhancing cooperation between government organizations and monitoring national economy indices that support decision makers.

The iGA’s Statistics Directorate’s ongoing partnerships with a government entities allow it to provide reliable data that support the national economy. This is maintained through coordinated meetings and the adoption of advanced statistical technologies in accordance with international standards, implementing surveys, and issuing economic reports that reflect the level of each sector’s contributions to the GDP. – TradeArabia News Service