World Bank: US-Iran War Impact Could Make Global Economic Growth Worst Since COVID-19
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The World Bank (WB) warns in its latest forecast that the US-Israeli war against Iran is significantly depressing global economic growth prospects, potentially leading to the slowest growth since the COVID-19 pandemic in 2020. The near-closure of the Strait of Hormuz is driving up costs for oil, gas, and fertilizers, risking long-term stagnation for dozens of developing countries.
AI Analysis
Frequently Asked Questions
- Q: What is the World Bank's latest global economic growth forecast?
- A: The World Bank forecasts global economic growth of 2.5% in 2025, the slowest since 2020.
- Q: What is the main cause of the slowdown?
- A: The US-Israeli war against Iran. The near-closure of the Strait of Hormuz is driving up costs for oil, gas, and fertilizers.
- Q: Which regions are most affected?
- A: Countries in the Persian Gulf region. Kuwait, Iraq, and Qatar could see near-zero economic growth in 2026.