Global ratings agency S&P Global downgraded Bahrain’s outlook to “negative” from “stable”, citing ongoing market volatility and weaker financing conditions that could increase the government’s interest burden.
Lower oil prices, maintenance at the Abu Sa’fah oil field, market volatility affecting funding costs, and higher social spending are expected to keep fiscal deficits elevated.
The agency noted that fiscal reform measures might not be sufficient to reduce the debt-to-GDP ratio, while
