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(From Gulf News)
Byline: Jassim Ali
Bahrain's gross domestic product (GDP) results for 2004 point out to increasing significance of the financial services sector in the economy. Provisional data show all sectors registering growth levels with oil being the only exception.
Real GDP (adjusted for inflation) grew by 5.4 per cent to reach $8.5 billion. Albeit a notable achievement by itself, yet the expansion compares adversely with 2003 when the GDP grew by 7.2 per cent. The decline in growth level is solely due to a drop of nearly 13 per cent in the amount of crude oil extended to Bahrain.
A statement by the ministry of finance attributed …