Gulf Economies at Risk of Worst Slump Since 1990s on Iran War
Key Takeaways
- Iran war threatens significant blows to Gulf economies, including Saudi Arabia, UAE, and Qatar.
- Qatar and Kuwait could see GDP contract by 14% if conflict lasts through April.
- Two-month halt of the Strait of Hormuz would result from the conflict.
Threat to Gulf economies
The Iran war threatens to deal significant blows to the Gulf’s biggest economies, including Saudi Arabia, the United Arab Emirates and Qatar, if it doesn’t end soon.
“The Iran war threatens to deal significant blows to the Gulf’s biggest economies, including Saudi Arabia, the United Arab Emirates and Qatar, if it doesn’t end soon”
GDP impact for Qatar/Kuwait
Qatar and Kuwait could each see their gross domestic product contract by 14% this year should the conflict continue through April, resulting in a two-month halt of the Strait of Hormuz, according toGoldman Sachs Group Inc.economistFarouk Soussa.
Source of projections
The projections come from Goldman Sachs Group Inc. economist Farouk Soussa.
“The Iran war threatens to deal significant blows to the Gulf’s biggest economies, including Saudi Arabia, the United Arab Emirates and Qatar, if it doesn’t end soon”
More on Iran
Russia Secretly Airlifts Iran's Supreme Leader Mojtaba Khamenei to Moscow for Surgery
11 sources compared
Iranian Drone Strike Shuts Dubai International Airport, Thousands Stranded
25 sources compared
Iran Drone Strike Shuts Dubai International Airport, Triggers Global Travel Disruption
16 sources compared
Iran's New Supreme Leader Mojtaba Khamenei Travels to Moscow for Leg Surgery
15 sources compared