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MANAMA: Additional fiscal reforms that strengthen Bahrain’s non-oil revenue and rationalise expenditure, coupled along with the more supportive oil price environment, have prompted S&P Global Ratings to revise its outlook on Bahrain to stable from negative.
The US-based ratings agency has also affirmed its ‘B+/B’ ratings on the sovereign and said that the stable outlook balances an improving fiscal position and support from some GCC countries against high government debt and debt-service burden .
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