Bahrain: Depleted FX reserves cause economic crisis

​From low oil prices to financial crisis...

The Bahraini economy is relatively diversified compared with fellow members of the GCC regional grouping. The hydrocarbon sector accounts for approximately 20% of GDP (vs. more than 40% in Saudi Arabia, e.g.). Nonetheless, the sector remains all-important, especially since oil and gas account for around 85% of government revenues. Bahrain has the highest fiscal breakeven oil price in the region, at about 93 USD/bbl.