Barclays Plc has said growth of the economies of Bahrain and Oman will be less than previously forecast this year as uprisings in the two Arabian Gulf states take a toll on industries such as financial services and tourism, Bloomberg has reported. Bahrain's real gross domestic product will expand 1.4%, down from a previous forecast of 4.3%, while Oman's economic growth was downgraded to 4.5% from 5.2%, Barclay's Capital senior economist Alia Moubayed said in an e-mailed report yesterday. In countries where "severe unrest occurred, primarily in Bahrain and to a lesser extent in Oman, non-hydrocarbon growth is likely to slow despite the expected increase in government spending and support from neighbouring GCC states," the report said.
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