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War in Gaza threatens the global economy

Feb 12, 2024

The global economy continues to grow and show resilience in the face of various wars and geopolitical crises, but the conflict in the Middle East will have wider implications.


According to DW, this was stated by the Chief Executive Officer of the International Monetary Fund (IMF) Kristalina Georgieva at the World Government Summit in Dubai, Ukrinform reports.

"This extreme uncertainty exacerbates the problems for economies that are still recovering from previous shocks. Further expansion of the conflict will increase the economic damage," Georgieva said.

The IMF has lowered its growth forecast for the Middle East and North Africa from 3.4% to 2.9% and called the region's prospects extremely uncertain due to a large number of risks. Among them, the IMF attributed the threat of the war in the Gaza Strip spreading to Israel's neighboring countries, as well as further trade disruptions due to attacks on ships in the Red Sea.

Author - Serhii Kolomiets, 12/02/2024

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