Saudi Arabia to Bahrain causeway to reopen late July – report
The King Fahd Causeway shut on March 7 as part of the precautionary measures implemented by Saudi Arabia
The roadway linking Bahrain to Saudi Arabia is expected to reopen on July 27, Asharq Al-awsat newspaper reported citing people familiar with the matter, ending a costly closure introduced to stop the spread of the coronavirus.
The King Fahd Causeway shut on March 7 as part of the precautionary measures implemented by Saudi Arabia.
Bahrain’s tourism revenues have fallen by 4m dinars ($10.6m) a day during the pandemic, according to a report by the Bahrain Tourism & Exhibition Authority.
That’s exacerbating an economic downturn also fueled by the fall in oil prices.
S&P Global Ratings forecast Bahrain’s economy will shrink 5 per cent this year, although it said government stimulus measures should provide some support.
The ratings company expects a rebound in 2021 as crude prices recover and regional activity increases.
Bahrain, the smallest among economies of the six Gulf Cooperation Council members, has the added protection of a $10bn bailout package secured from its regional allies in 2018.
