IMF: Escalation in Middle East will have significant economic consequences
The International Monetary Fund has warned of serious economic consequences from the escalation of the Middle East conflict.
The corresponding statement was made on October 3 by IMF official representative Julie Kozak.
Her words are quoted by TASS .
What the IMF said about the economic consequences of the escalation in the Middle East
An IMF official has warned that further escalation of the conflict in the Middle East would have significant economic consequences for the region and other countries.
The economy is at the center of the conflict, Kozak said.
According to her, Israel, Lebanon, the Gaza Strip and the West Bank have already suffered greatly economically.
According to preliminary estimates, the gross domestic product of the West Bank of the Jordan in the first half of this year fell by 86%, and that of Lebanon by 25%.
Israel's GDP contracted by about 20% in the fourth quarter of last year.
After which, only a partial recovery was observed in the first half of this year, the IMF representative added.
