The International Monetary Fund used its April 2018 biannual forecasts to upgrade its outlook for growth for 2018-2010 as it raised its medium-term outlook. It now expects the economy to grow by 3.0% in 2018, up from the 1.7% it had forecast in October 2017. It then expects growth to slow to 2.3% (up from 1.1%) before rising back to 2.2% in 2020 (2.1%) and rising again to 2.3% in 2021. Growth in Bahrain’s economy slowed into the fourth quarter of 2017 as curbs on oil production offset rises in non-oil sectors. The economy grew at an annual rate of 3.4% in the three months to September 2017 up from growth of 4.1% on an annual basis in the previous quarter, which was unexpectedly revised by from 3.6%. The oil sector percent expanded 1.3% from a year earlier in the fourth quarter while the non-oil sector grew 3.8%. This was boosted by the other sectors of the economy. In April 2018 Bahrain said it had discovered its biggest oil field since it started producing crude in 1932. The shale oil and natural gas discovered in a deposit off the island state’s west coast “is understood to dwarf Bahrain’s current reserves. The authorities in Manama have announced that the discoveries contain 80bn barrels of oil in place and 13trn cubic feet of natural gas. If 10% of the oil in place proves recoverable, it will make the field one of the 30–40 largest operating oilfields in the world.